Monday, Aug 2nd 2021 7:36 PM

Market Digest Nigeria


Kyari (NNPC GMD) to brief senate


[BREAKING] PIB: NNPC GMD to brief Senate Thursday

NNPC GMD, Mele Kyari

The Group Managing Director of the Nigerian National Petroleum Corporation, (NNPC) Mele Kyari, will, on Thursday, brief the Senate on the Petroleum Industry Bill, 2021.

Senate President Ahmad Lawan, disclosed this during plenary on Wednesday.

Lawan said the briefing was to help senators better informed on the technicalities and financial implications of certain provisions in the piece of legislation.

He said the briefing by the NNPC boss would be closed-door and last for one hour.

The Senate had, on Tuesday, received the report of the Joint Committee on Petroleum (Downstream); Petroleum (Upstream) and Gas Resources on PIB.

Lawan also said Thursday’s plenary would be entirely devoted to the consideration of the report.

He said, “Before plenary tomorrow, the leadership of the Senate has decided to invite NNPC GMD to come and brief us in a closed session.

“The opportunity is for those of us who are not members of the joint committees to hear some of the technical details, financial details and implications of certain provisions in the bill.”

The proposed legislation seeks to reform the country’s petroleum industry.

The bill, first presented in the National Assembly in 2008, aims to streamline how energy assets in Nigeria are operated and funded.

It would also regulate the oil industry and attract more investment to the sector, according to lawmakers.

Details later….

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