PIB passes second reading at House of Reps

The House of Representatives on Thursday set up an ad hoc committee to handle the much anticipated Petroleum Industry Bill.

In the same vein, the House also passed the PIB bill for a second reading.

The bill seeks to restructure and reform Nigeria’s oil and gas industry. It will unbundle the Nigerian National Petroleum Corporation (NNPC) and other like bodies, and create new ones.

The Senate had three weeks ago passed the Petroleum Industry Governance Bill and sent to the House for concurrence.

After Thursday’s activities, the Speaker announced that the House would embark on a two-week recess and resume July 4.

This is to commemorate the second anniversary of the 8th Assembly and the Muslim Eid-El-Fitri festival.


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