Senate okays three petroleum bills for second reading

Three bills to legislate for reforms, covering host communities, investment and administrative issues in Nigeria’s petroleum industry have scaled second reading in the Senate.

The three pieces of proposed legislations are:

a bill for an Act to provide for framework relating to petroleum producing Host community’s participation, 2017 (SB. 404) by Kabiru Marafa, APC-Zamfara;

a bill for an Act to establish a fiscal framework that encourages investments in the petroleum industry, 2017(SB.472) by Tayo Alasoadura, APC-Ondo;

and a bill for an Act to provide for the administrative framework for the Petroleum Industry, 2017 (SB. 540) by Bassey Akpan, PDP – Akwa Ibom.

The three bills were, on Thursday, referred to the joint committee on petroleum (downstream), petroleum (upstream) and gas, which are to report back to the Senate in four weeks.

They are parts of the Petroleum Industry Bill, now split into several bills.

The Senate had earlier passed the first part, Petroleum Industry Governance Bill.

…Details later

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