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Giving Life to PIB

After over 13 years of failed attempts, the Ninth National Assembly has finally passed the long awaited Petroleum Industry Bill, report Deji Elumoye and Udora Orizu Report
Nigeria, for about one and half decades, has been on a journey with the Petroleum Industry Bill (PIB), with a lot of anticipation and promises, which failed overtime in previous National Assemblies. However, two years into the Ninth Assembly, the two chambers at plenary on July 1, passed the Bill for third reading after duly adopting all the 318 clauses as recommended by the Committee on PIB after some amendments. With this latest development, it seems the Ninth Assembly is set to make history, if the PIB is eventually assented to by President Muhammadu Buhari. ....

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As PIB Faces Fresh Hurdles…

After over two decades in the works, the Petroleum Industry Bill (PIB), arguably the piece of legislation with the most tortuous journey in the nationâs history, is again faced with what looks like new impediments. With all the parties, seemingly sticking to their old rigid positions during a two-day public hearing at the National Assembly during the week, itâs uncertain who will blink first or whether there will be a middle ground in the next few months. In this report, Emmanuel Addeh wonders if the bill, one that has been described as pivotal to the long-term overall survival of the oil and gas industry, will survive the turbulence this time or be finally confined to the dustbin of history ....

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Petroleum bill faulty, Niger Deltans insist

• ‘We want holistic participation in oil industries’ • Residents warn current PIB will cause more problems
• Country moving in right direction, says minister • Committee chair promises to visit region for more facts
Niger Delta stakeholders, yesterday, defended their opposition to the current Petroleum Industry (PIB), which government officials believe is the solution to the myriad of challenges confronting the region.
They spoke just as some community leaders from the region threw caution to the wind as they engaged in fisticuffs during yesterday’s public hearing on the bill. The fight started when Host Communities of Nigeria Producing Oil and Gas (HOSTCOM) was called to the podium to make a presentation. There was disagreement amongst the members, leading to exchange of blows until security operatives intervened. ....

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30 oil companies, Niger Delta States, Labour mount opposition to PIB -

Oil Producing Trade Section (OPTS), comprising 30 indigenous and international members operating about 90% of the total oil and gas production in Nigeria yesterday saihd the Petroleum Industry Bill, PIB would stifle their businesses and the growth of the Petroleum sector.

The Chairman of OPTS, Mike Sangster who spoke on behalf of the group at the beginning of the two day public hearing on the PIB organized by the ad-hoc Commitee of the House of Representatives said that some aspects of the bill were inimical to future investments.
Titled “A Bill for an act to provide legal, governance, regulatory and fiscal framework for the Nigerian petroleum industry, the development of host community and for related matters”, the proposed piece of legislation is chiefly seeking to scrap the Petroleum Equalisation Fund (PEF) and Petroleum Products Pricing Regulatory Agency (PPPRA) and replace them with a new agency to be called Nigerian Midstream and Downstream ....

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Oil majors, others, raise concerns as National Assembly begins hearing on PIB

Oil majors, others, raise concerns as National Assembly begins hearing on PIB
The oil majors and other players in the industry expressed disatisfaction with some provisions of the Petroleum Industry Bill, 2020.
3 min read
Some major oil producing companies and other players in the industry have raised concerns over some provisions of the Petroleum Industry Bill (PIB), 2020.
This was at the first day of the public hearing, a necessary stage of the consideration and passage of the bill.
The legislation, which was transmitted to the National Assembly last year after it had suffered setbacks for about 20 years, proposes the scrapping of the ....

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