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Buhari signs PIB into law

Still in isolation in Abuja as required by Covid-19 protocols following his recent return visit to the United Kingdom, President Muhammadu Buhari has assented to the Petroleum Industry Bill (PIB) 2021.

 According to presidential spokesman, Femi Adesina, on Monday, a ceremonial signing ceremony will still hold at the Presidential Villa on Wednesday.
 Adesina said in a statement that: “Working from home in five days quarantine as required by the Presidential Steering Committee on COVID-19 after returning from London on Friday August 13, the President assented to the Bill Monday August 16, in his determination to fulfill his constitutional duty.

“The ceremonial part of the new legislation will be done on Wednesday, after the days of mandatory isolation would have been fulfilled.
 “The Petroleum Industry Act provides legal, governance, regulatory and fiscal framework for the Nigerian petroleum industry, the development of host communities, and related matters.
 “The Senate had passed the Bill on July 15, 2021, while the House of Representatives did same on July 16, thus ending a long wait since early 2000s, and notching another high for the Buhari administration.”

Written by ExpressDay

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