House Of Reps Pass Petroleum Industry Bill


The federal house of representatives on
Thursday passed the contentious Petroleum
Industry Bill (PIB) into law.
However, the 7th senate did not concur with the
passage, as it ended on Thursday.
In his valedictory speech, Senate President
David Mark had cited the failure to pass the bill
as one of the low points of the outgoing senate.
On May 13, the house had commenced
consideration of its ad hoc committee’s report
on they bill, which has been in the national
assembly since 2008.
One of the kernels of the bill is the
abolishment of the discretionary power of the
president to grant petroleum licenses.
Although, the-clause-by-clause review of the bill
was suspended following a string of
observations raised by lawmakers on legal
technicalities, the process for the eventual
passing of the bill was initiated culminating in
its passage.