In a bid to beat the July deadline for the passage of the Petroleum Industry Bill (PIB), the House of Representatives Ad hoc Committee on PIB, met the Minister of Minister of Petroleum (State), Timipe Sylva and the Group Managing Director of the NNPC, Mele Kyari.
The meeting, which held for five hours at the National Assembly complex, was at the instance of the lawmakers to address the grey areas of the bill.
The House had set the July deadline to pass the bill before embarking on its annual recess.
The Chief Whip of the House, Mohammed Monguno (APC, Borno), who is also the Chairman of the Committee, had promised that the bill would be passed before the end of the first quarter of 2021.
Also after his meeting with President Muhammadu Buhari at the State House on Thursday, the Senate President, Ahmad Lawan, assured that the report on the bill would be laid on Tuesday.
The House conducted a public hearing on the bill in January.
Total Nigeria had described the fiscal regime, as proposed in the new bill as “globally uncompetitive”, warning that it would hurt several deep offshore investments in the country.
Mike Sangster, the Chief Executive Officer of Total Nigeria, had presented the position of the oil companies under the cluster of Oil Producers Trade Section (OPTS) of the Lagos Chamber of Commerce (LCCI) at the hearing
Source: .premiumtimes
