Contrary to expectations, the passage of long-awaited Petroleum Industry Bill, PIB, may be stretched to before 2015. Ironically, earlier promises made by various arms of government including the executive and the legislature were that the bill will be passed before year end.
The hint was dropped in Lagos at the 7th Oil Trading Logistic Expo, thereby heightening anxieties of protracted investment freeze in Nigeria’s oil and gas industry.
The Chairman House Committee on Petroleum Downstream, Hon. Dakoko Peterside, who gave the hint, said: “We are working on the bill and we are conscious of the fact that it is very critical to the economy of Nigeria, and so we are not taking it lightly. I want to reassure you again that we are taking the PIB very seriously and I’m very optimistic that the bill would be passed before 2015.”
– See more at: http://www.vanguardngr.com/2013/11/pib-passage-tipped-2015/#sthash.Q6YtGEDL.dpuf