The Petroleum Industry Bill PIB 2020 is a law in the making which seeks to introduce far-reaching reforms in the Nigerian oil and gas industry. The PETROLEUM INDUSTRY BILL 2012 is a 223 page document with 362 sections and 5 schedules.
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The assent to the bill in various forms and versions follows the passage of the harmonized version of the bill.
Pib bill. The Nigerian Senate and the House of Representatives made history on Thursday when they passed the Petroleum Industry Bill PIB after two decades. The Petroleum Industry Bill PIB 2020 is a law in the making which seeks to introduce far-reaching reforms in the Nigerian oil and gas industry. Follow Channels Television On.
Before the introduction of the Petroleum Industry Bill PIB 2021 various restructuring efforts have been made to restructure the oil and gas industry but without any real success. This comes after the National Assembly had allocated 3 to the Niger Delta region in the PIB. Petroleum Industry Bill PIB 2020 2 min read The oil and gas industry has a significant impact on the Nigerias economy.
Watch more interesting videos. The Bill seeks to provide for Legal Governance Regulatory and Fiscal Framework for the Nigerian Petroleum Industry the Development of Host Communities and for related matters. The Bill is divided into 9 parts which propose to cover the entire spectrum of the oil and gas industry.
The PIB was first brought to the National Assembly in 2008 but it faced several obstacles while undergoing numerous revisions and debates. It was first presented to the National Assembly in 2008. Nigerias President Muhammadu Buhari has signed the Petroleum Industry Bill PIB 2021 into law.
The House of Representatives first passed the bill before the Senate followed suit. As reactions continue to trail the passage of Petroleum Industry Bill PIB Host Communities have rejected the bill that was passed into law. In 2015 the Buhari administration proposed passing the PIB in various segments forming four separate bills Petroleum.
President Muhammadu Buhari yesterday August 16 2021 signed the Petroleum Industry Bill PIB into law almost 20 years after it was first introduced and representing a significant milestone for Nigerias oil and gas sector. Earlier the Coalition of Northern Groups CNG has said the Petroleum Industry Bill PIB will create more hardships for ordinary Nigerians especially those in the North if passed and implemented in its present form. PIB bill passed into law amid sharp division over 5 for host communities The Senate on Thursday passed the Petroleum Industry Bill PIB into law after over 20.
This part of the blog seeks to summarise the Bill along its 9 parts. Part I Objectives. Also the Niger Delta Revolutionary Crusaders NDRC have threatened to resume attacks on oil facilities in the Southsouth over the recently passed Petroleum Industry Bill PIB.
It is expedient to note that the Bill has been in the making for about twenty 20 years and involved countless stakeholder consultations and engagements. This was disclosed in a statement by Femi Adesina Special Adviser to the President on Media and Publicity on Monday August 16. The News Agency of Nigeria NAN reports that the bill was the first in a series of long awaited petroleum industry laws designed to reform the Nigerian oil and gas industry.
PIB Will Make North Poorer Says CNG. Though the industry contributes less than 10 to the countrys gross domestic product it contributes about 90 of the foreign exchange earnings and 60 of total income. It was first presented to the National Assembly in 2008.
What is the Petroleum Industry Bill PIB. Dont forget to subscribe. At the time the PIB was split into four namely Petroleum Industry Governance Bill PIGB Petroleum Industry Administration Bill PIAB Petroleum Industry Fiscal Bill PIFB and Petroleum Host Community Bill PHCB.
What is the Petroleum Industry Bill PIB. The Petroleum Industry Bill PIB 2020 is a law in the making which seeks to introduce far-reaching reforms in the Nigerian oil and gas industry. There was some progress in 2015 when the House of Representatives passed a version but it didnt go through at the Senate.
Prior to this there were various iterations of the Bill. This started as an omnibus bill and was later divided into 4 separate bills before emerging as a. He said Working from home in five days quarantine as required by the Presidential Steering Committee on COVID-19 after.
What are the major objectives.
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