*Public Hearing On January 27 & 28
The Ad-hoc Committee on the Petroleum Industry Bill [P.I.B.] of the House of Representatives is inviting industry players, relevant stakeholders and the general public to a two days Public hearing on the Petroleum Industry Bill.
In furtherance of the Public hearing, the Ad-hoc committee is also inviting the submission of Memoranda on the said bill from stakeholders and interested persons. Those wishing to submit such memoranda are required address same to the Chairperson of the Ad-hoc Committee on Petroleum Industry Bill and also submit Seventy-Five (75) hard copies and a soft copy of the memoranda at the Committee’s Secretariat located at Meeting Room 327, House of Representatives, National Assembly, FCT, Abuja.
The Public hearing on the Bill is scheduled as follows;
Date: January 27 & 28, 2021.
Time: 10:00am Daily
Venue: Conference Room 028, House of Representatives, National Assembly Complex, FCT Abuja.
Interested stakeholders seeking to access the Petroleum Industry Bill are required to visit www.hrpib.org.ng to download the Bill or contact the clerk of the committee, Mr. Abdulsalami Olalekan on 08036793087 or 08174476107.
It is worthy of note that successive governments over the years have attempted to pass the all-encompassing Petroleum Industry Bill [PIB] to no avail.
The Bill seeks, amongst other things, to provide legal, governance, regulatory and fiscal framework for the Nigerian petroleum industry, which accounts for almost 90% of the Nigerian foreign exchange earnings. The Bill is expected to cover the development of host communities and would vest the property and ownership of petroleum within Nigeria and its territorial waters, continental shelf and Exclusive Economic Zone in the Government of the Federal Republic of Nigeria.