Sunday, Oct 17th 2021 3:37 AM

Market Digest Nigeria


Senate will be quick with PIB passage


The President of the Senate, Dr Ahmad Lawan on Thursday assured Nigerians of a conclusive reform in the Nigerian oil and gas industry, saying the ninth National Asembly will quicken the passage of Petroleum Industry Bill (PIB).


Senate will be quick with PIB passage

Lawan spoke when he received the Chief Executive Officer of the ExxonMobil Group of Companies, Mr. Paul McGrath who led the team of Executives from the company to his office on Thursday.

Lawan recalled several attempts had been made by previous assemblies, but the PIB was not passed. “We came closer in the 8th Assembly,  we did better than previous Assemblies unfortunately, we ran out of time. “We have a vibrant team now, I promise Nigerians, we will start as soon as we inaugurate our Committee and they will start the work on the PIB. “This time around, we will work with every stakeholder in the industry. Whatsoever it will take to make this Bill beneficial to Nigerians and the players, we will not hesitate. “We demand your collaboration, we will work together in the interest of the country and everyone.” he assured.

The President of the Senate also seized the occasion to call on multinational companies who operate in the Niger Delta region to as a matter of priority intensify efforts on their corporate social responsibility. “Corporate Social Responsibility is one areas that require our attention. The host community that produce this oil must be taken care of. The goose that lay golden eggs must be protected,” Lawan advised.

Earlier, the CEO, ExxonMobil, Mr. Paul McGrath congratulated Lawan and the Senate leadership for the smooth take of the ninth Senate. He said the ExxonMobil would always be available to work with the parliament on the reform in the sector. “We look forward to closer working relationship with the ninth National Assembly and in particularly the Senate. We will support the reform in the industry and our commitment is intact,” he said.

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