Minister of State for Petroleum Resources Dr. Ibe Kachikwu has expressed confidence that the protracted Petroleum Industry Bill (PIB) would be passed this year. Kachikwu said this yesterday in a broadcast on Nigeria’s Petroleum Sector Outlook for 2017. “In 2017 we are going to be running with rocket pace.
First of all, we are going to firm up our policies, gazette all our oil and gas policies and then pass the PIB,” he said in a two-minute video posted on the ministry official twitter handle.
The PIB which seeks to reposition the petroleum industry has suffered delayed passage for almost 16 years. The Senate had drafted a new Bill, the Petroleum Industry Governance Bill (PIGB) which scaled through first reading in April 2016 but debate on the new draft legislation was suspended since June 13th.