The Senate on Thursday, broke the 17 years jinx by passing into law the age long Petroleum Industry Governance Bill.
The upper legislative chamber passed the bill after the senators considered clauses in the bill.
The bill, which has not been passed since 2008, was broken into four parts to allow easier passage.
The PIG bill was read the third time at the Senate’s plenary before it was passed.
The PIGB was passed after the Senate, in the Committee of the Whole, considered the Report of the Committee on Petroleum Upstream, Petroleum Downstream and Gas presented by Senator Donald Alasoadura.
Senate President, Bukola Saraki while commenting on the bill said “this is a Bill that has been here for many years, we made a commitment and it’s being fulfilled.” Continuing, Saraki said, “this Bill is not only for Nigerians but for our investors. We are proud of what has been done.”
“I hope with this bill, the oil and gas industry will see a new form of investment, we will plug all the loopholes and reduce the corruption and inefficiency.”
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