Tag: PIB
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Non-Passage of PIB has made Nigeria lose over $20bn – Hon Nwawuba
…insists PIB’s passage won’t go beyond 2020 By Emman Ovuakporie The deputy Chairman House of Representatives Committee on Niger Delta Affairs, Hon Henry Nwawuba on Thursday said the Non-Passage of the Petroleum Industry Bill, PIB has made Nigeria lose over $20billion over the years. The Imo State born lawmaker made this known in a chat…
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PIB: A bad law is better than no law, says ex-Petroleum Minister
Mr Odein Ajumogobia, Chairman, Expert Advisory Panel, Nigeria Natural Resource Charter (NNRC), while decrying delay in passage of the Petroleum Industry Bill (PIB) has said a bad law is better as no law at all. TheNewsGuru.com (TNG) reports Ajumogobia, former Minister of State, Petroleum Resources stated this at the NNRC launch of 2019 Benchmark Exercise…
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‘13% derivation has not translated into benefits for local communities’
Based on research, 13% derivation as contained in the Constitution of the Federal Republic of Nigeria has not translated into benefits for local communities in the Niger Delta, as there has been a key violation of the Global Memorandum of Understanding (GMoU). TheNewsGuru.com (TNG) reports this was part of findings reached in the 2019 benchmarking…
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Sylva hints on fresh date for final passage of PIB
Chief Timipre Sylva, Minister of State for Petroleum Resources, says review of the Petroleum Industry Bill (PIB) is at an advanced stage and full passage of the bill is expected mid 2020. Sylva made the announcement on Wednesday, in a statement to mark the new year which was made available to the News Agency of…
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Senate announces date for passage of PIB
Senate President Ahmad Lawan on Wednesday said the Senate will pass the Petroleum Industry Bill (PIB) before the end of 2020. The Bill is meant to overhaul the petroleum industry, entrench efficiency and transparency in the upstream and downstream sectors, bring operations in line with international standards. It also seeks to increase government revenue from…
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Gbajabimilla Names 20-Man Committee on Petroleum Industry Bill [Full list]
From Jonas Ike, Abuja Speaker of the House of Representatives Hon. Femi Gbajabimilla on Wednesday named new members of a Committee on the revised Petroleum Industry Bill PIB. Gbajabimilla read out the names after plenary of the House ended at 2:30 pm and said that the committee should work round the clock to ensure speedy…
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Analysis: Can Methuselah PIB survive 9th Assembly?
…after recording failures in 3 Assemblies The Petroleum Industry Bill, otherwise known as PIB has spent 19years in circulation in Nigeria without any meaningful development. It was a piece of cheering news when Speaker Femi Gbajabiamila announced to Nigerians on Tuesday that the oldest Bill in the corridor of the Nigerian legislature will be passed…
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BREAKING: Gbajabiamila vows to ensure 9th House passes PIB
…insists estimated billing of energy must stop Speaker of the House of Representatives, Femi Gbajabiamila has vowed that the almost 20years old Petroleum Industry Bill, PIB must be passed by the ninth Assembly. He also insisted that the era of estimated billing for consumers of electricity in the country will soon be over. The speaker…
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[TNG investigation] 19 Years After: Who is scared of PIB’s passage? [Concluding Part]
By Emmanuel Ovuakporie Continued from last week… …Non-passage of Bill has made Nigeria lose trillions of Naira to oil and gas theft … between 2011-2014 Nigeria lost 1.4bn barrels of crude oil and gas to theft worth $17bn that spanned 51 countries … Nigeria loses $250m annually to non-passage of Bill-Stakeholders … Nigeria lost 22mb…
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Buhari withholds assent to PIB, faults reduction of ‘presidential powers’
The Federal Government’s efforts to open up the oil sector for increased Foreign Direct Investment (FDI), may have suffered another deadly blow with report that President Muhammadu Buhari, has withheld presidential accent to the much awaited Petroleum Industry Governance Bill (PIGB), recently passed by the National Assembly. The harmonised version of the bill was passed…