Nigerian Senate to Begin Petroleum Industry Bill Hearing

Seems like all has  not been heard about the Petroleum Industry Bill presently before the senate. Nigerians will still have to wait a little longer.The Nigerian senate says it will resume another round of hearing on the Petroleum Industry Bill on October 9 following protests of exclusion by some key stakeholders.

The new hearing is expected to resolve issues like new tax regime for oil companies and a fund for host communities.The Nigerian Bar Association (NBA) and the Nigerian labour Congress (NLC), among others, had alleged that many stakeholders were hindered from participating in the reforms of the oil sector.

To this effect, for Senate standing committees: Petroleum Resources (Upstream and Downstream), Gas and Judiciary, Legal and Human Rights were mandated to conduct the hearing.

The Bill (PIB) seeks to enhance exploration and exploitation of petroleum resources in Nigeria for the benefit of Nigerians.