Legislators to hold stakeholders summit on PIB in July

Lawan Hamidu, Abuja

chairman House Committee on Petroleum Resources, Downstream, Mr. Victor Nwokolo

The House of Representatives is to hold its planned stakeholders summit on the new version of the Petroleum Industry Bill in July.

The chairman House Committee on Petroleum Resources, Downstream, Mr. Victor Nwokolo said the summit which was scheduled for Monday to Wednesday next week has now been shifted to 18 to 20 July 2016.

The summit was convened by the House as a result of the inability of the executive arm to forward a new version of the Petroleum Industry Bill to the National Assembly.

The summit, according to the House will collate suggestions on the new bill that will be presented for legislation by the House.

Speaker House of Representatives, Mr. Yakubu Dogara, had early this year announced that the green chamber was drafting its own version of the bill as a result of failure by the executive to forward its proposed version of the law.

Summit Objective

The primary objective of the summit is to bring all Stakeholders in the industry together to afford them the opportunity of discussing relevant issues pertaining to the reform of the Petroleum Industry in Nigeria and contributing to the development of an appropriate legal framework for petroleum industry Reform.

It is expected that the deliberations at the workshop will enhance the quality of any Bill that will in due course be considered by the House, and enhance the quality of debate thereto and hopefully facilitate its smooth passage.

The summit will interrogate salient issues that will lead to the emergence of appropriate drafts that is in sync with national interests as well as provide direction during the legislative drafting process while promoting the emergence of an industry that provides a level playing field for all deserving operators.

Nnenna.O