Guardian
23 March 2011
THE delay in the passage of the Petroleum Industry Bill (PIB), which has bred uncertainty and deterred potential investments in the oil and gas sector, has again been allayed following fresh assurances of its quick passage from the Minister of Petroleum Resources, Diezani Alison-Madueke.
The minister, who stated this at the weekend while fielding questions from journalists at a media parley in Abuja, said that the National Assembly is anxious to see the bill passed into law, adding that there were some areas that need further streamlining, which has been handled quite successfully.
According to her, “we have worked on various sectors of the bill, although the bill has few hiccups, very importantly the fiscal terms as it concerns domestic gas. They were quite strigent in an effort to ensure that the terms will have the support for domestic gas supply in the country.”
She emphasised that the bill would be forwarded to the President in the shortest possible time, adding that It was brought before the House of Representatives last week as the Senate has started a second hearing on it.
“We have been in very close touch with them and we understood the reasons why the Senate has aborted it. We are in no doubt that it would be finalise in the shortest possible time, she said.
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