By Fola James
The Petroleum Industry Bill, PIB has been passed by the House of Representatives. on Thursday passed the long awaited Petroleum Industry Bill (PIB) after considering and adopting the bill’s 318 clauses.
The bill will now awaits Senate concurrence following which it will be sent to President Muhammadu Buhari for assent.
The president sent the bill to the National Assembly last September. Its aim is to open up the petroleum industry and make the sector more investor friendly, though some say the content of the bill will further drive away the Foreign Direct Investment, FDI required to grow the sector.
Details later….
