Stakeholders commend Senate on passage of PIGB

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Nigerian Senate

Some stakeholders in the oil and gas industry on Thursday commended the Senate for passing the Petroleum Industry Governance Bill (PIGB).

They disclosed in Lagos that the passage of the Bill was a long-awaited exercise and that the legislation promised broad reforms to the nation’s downstream sector.

In passing the Bill on Thursday, the Senate said that it was its first tranche that was approved and that the second and final tranche would be passed subsequently.

The stakeholders said that the PIGB was the best legal regulatory framework for the country’s petroleum industry.

According to the Chairman, Integrated Oil and Gas Ltd., Mr Emmanuel Iheanacho, the enactment was a welcome development which is capable of revamping the dwindling oil sector.

“The law will liberalise and fully deregulate the downstream sector to operate without hindrance, and this will…

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