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Oil reform bill to be passed in Nigeria – Senate President

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Ahmed Ibrahim Lawan, Nigeria’s Senate president, took to Twitter on Wednesday to say that the legislature has begun discussions with the president to draft a bill to improve the petroleum sector, which will be passed the by end of 2020.

The Senate President has been trying to pass legislation on the sector for more than a decade which will inculcate all that concerns the sector in Nigeria, from taxation to relations with the oil-producing regions in the Delta.

He also said that the legislature believes that the passage of the bill will go smoothly as both the presidency and the chambers of parliament have been in the hands of the same party since last February.

“We believe that this time around, the ninth National Assembly will break the jinx and should be able to pass the Petroleum Industry Bill,” he said.

Stakeholders in the oil sector have also said that reform this year will bring about investments, particularly after Nigeria passed another law increasing the government’s take from deep offshore fields.

Source Reuters
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