Government to unveil three new PIBs

In our last post, we reported that the passage of the PIB seemed to be nowhere in sight due to internal power play between the National Assembly and the Executive. Well, the Guardian yesterday reported that the Presidency will present three harmonized bills from the PIB to the National Assembly before their resumption from recess.

According to the Minister of State for Petroleum Resources Dr. Ibe Kachikwu, the three Bills are in the final editing stages and will be sent to the Federal Executive Council and other stakeholders for their input. Dr. Kachikwu reiterated the willingness of the Executive and legislature to pass the PIB noting that the three Bills were drafted in consideration of the issues raised by stakeholders.

The National Assembly should resume from recess by 12th of September 2016 and we hope that the Presidency makes good on its promise.

Supremacy Battle Between Presidency, N’Assembly Stalls Legislation on PIB

There are indications that the passage of the PIB may be nowhere is sight as information gathered from ThisDay suggests that the delay in the passage of the Bill is actually due to internal wrangling between the National Assembly and the Executive, a power play centered around which arm of government is responsible for the passage of the Bill. This is in addition to the unresolved issue of the inclusion or otherwise of the host community fund in the Bill. The report decried this debacle calling it a major embarrassment for Nigeria in view of the landmark passage of a similar Bill by Ghana’s parliament last week.

The paper went on to report that the Group Managing Director (GMD) of NNPC, Dr. Maikanti Baru has promised to continue with the reform initiatives started by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, and further grow the fortunes of NNPC by focusing on a 12-point agenda, which includes security of oil installations, the new business models, joint venture cash calls, production and reserve growth, growth of the Nigerian Petroleum Development Company (NPDC), gas development, oil and gas infrastructure, and refinery upgrade and expansion.