By Emman Ovuakporie
The Leader of the House of Representatives Peoples Democratic Party, PDP, Caucus, Rep Kingsley Chinda has said he would support the present Petroleum Industry Bill, PIB, as it’s better than nothing.
TheNewsGuru.com, (TNG) reports Chinda noting that the present PIB as it’s is very faulty but it is better than nothing as some major companies have described the Bill as an emotional legislation that will not really help the oil sector.
According to Chinda, how can a large chunk of the earnings of Nigeria will be spent on search for oil in the frontier states that are basically in the north.
“Yes this is an emotional PIB but as time goes by amendments will be carried out to properly streamline it to make it better for Nigerians that’s our dream.
“It is all about Nigeria but mark it whatever is happening now will be highly regretted later because this is a Bill that has lasted over 20years.
In the seventh and eighth assemblies we passed it but they killed it because of some vested interest but now that they are the ones clamouring for it I will personally support it.
“A situation where there’s no governing law for the oil sector and for years anything that comes in the form of law I will support it.