The Petroleum Industry Bill (PIB) has not been passed into law because of high turnover of federal legislators, an oil and gas expert Israel Aye, has stated...
The Petroleum Industry Bill has not been passed into law because of high turnover of federal legislators, an oil and gas expert Israel Aye, has stated.
He said there was the need for the leadership of the National Assembly to work hand in hand with the Executive in the drafting of the Petroleum Industry Bill to ensure its quick passage by the lawmakers. “On each of the journeys , there were different stories, and it was mainly political reason in the last effort. We understand that the executive team is working on the bill now”, he said, adding that hopes are high that it gets to the parliament early enough for consideration.
Aye said the nation must be prepared to pay a high price for the development of the oil industry, adding that events in the Niger Delta such as oil bunkering and vandalisation as a result of criminal activities.
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