Legislators pass controversial Petroleum Industry Bill

The House of Representatives, on Thursday, June 4, 2015, passed the controversial Petroleum Industry Bill (PIB).

Only 47 out of the 360 members of the House participated in the session, which was presided over by Deputy Speaker, Emeka Ihedioha.

“We received a lot of bashing on the PIB, but we painstakingly went through the report clause-by-clause to ensure that a thorough work was done,” Ihedioha said.

“As a House, we have done our part. The rest of the job is now left with the Senate. If the Senate concurs with us, fine; if they do not, the bulk will be passed over to the 8th Assembly,” he added.

The passage of the bill will however have no effect until it receives mandatory concurrence from the Senate.

The 7th Senate, which wound down on Thursday, abandoned the PIB at the committee stage rendering the last minute passage by the House an “effort in futility.”

The passage of the PIB has been frequently stalled by the National Assembly despite being presented in 2012.

The bill seeks to create a more conducive business environment for petroleum operations and enhance exploration of petroleum resources in Nigeria.