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Market Digest Nigeria

Economy

Reps begin third reading of PIB

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Reps begin third reading of Petroleum Industry Bill (PIB)

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The House of Representatives is presently considering the report of its Special Ad Hoc Committee on Petroleum Industry Bill (PIB) on the controversial bill.

The Majority Whip and Chairman of the committee, Mohammed Monguno, had laid the report at the plenary on Wednesday.

On Thursday, Monguno prayed the House to consider the report on the ‘Bill for an Act to Provide Legal, Governance, Regulatory and Fiscal Framework for the Nigerian Petroleum Industry, the Development of Host Communities; and for Related Matters, 2021 (HB. 1061) and Approve the Recommendations Therein.’

The House, which reverted to Committee of the Whole, is now considering the report as part of the third reading of the PIB.

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