The Minister of State for Petroleum Resources, Chief Timipre Sylva, on Tuesday, May 18, at Abuja expressed optimism that the passage of the Petroleum Industry Bill (PIB) will not go beyond June 2021.
According to him, efforts put in place to ensure the passage of the bill currently before the National Assembly, are still on course.
“I want to tell you that the PIB is fully on course and we are very happy because we have focused on that for a long time and we had many meetings with the National Assembly and stakeholders.
“Today, I believe that we are all basically satisfied with where we are. I don’t think we are far away from the passage of the Petroleum Industry Bill (PIB)”.
The Minister also reiterated his earlier assurance to stakeholders that the Petroleum Industry Bill (PIB) will enshrine an “investor-friendly, market-led” gas pricing structure.
He expressed the hope that between now and June, the National Assembly (NASS) would pass the Petroleum Industry Bill (PIB), taking cognisance of the fact that the National Assembly actually gave April, but give or take, we still believe that the passage of the PIB will not go beyond June.