The Nigerian Senate President David Mark yesterday said the failure of the 6th National Assembly to pass Petroleum Industrial Bill (PIB) into existence was because of the different versions of the Bill.
It would be recalled that the Bill passed through all legislative procedures at both the House of Representatives and Senate before it was stalled despite the decision of the both chamber to consider the bill clause by clause before its passage into law.
Mark while inaugurating the Senate committee on Petroleum (Downstream) said: “The problem with the PIB was that when it showed up, there were so many versions. As many as three or four versions were in the hands of senators and members of the House of Representatives”.
The Senate however said it was necessary to get the bill off the ground by the National Assembly stating that PIB is like the Bible for the industry and if we are to build the sector, we have to get the bill off the ground and this is why it is necessary for cooperation between the legislative and the executive.
“Since the entire economy of the country depends on the petroleum industry and if we don’t get it right in the sector, then the much talked about Vision 2020-20 would be a mirage and remain a dream”.
Mark implored the committee to ensure that the bill properly worked upon as soon as possible so that all problems associated with the bill can be resolved and pass into law by the seventh National Assembly.
Speaking during the inauguration, Chairman of the Committee, Magnus Abe said he was aware of the circumstances surrounding the PIB and assured that the committee would reach out to all stakeholders to ensure that the copy that would be presented would be only one version that would tackle all the problems in the sector.
Abe assured the stakeholders in oil industry that the committee would continue to monitor the entire processes involved in the downstream sector.
