Buhari gives legal teeth to Petroleum Industry Bill

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President Muhammadu Buhari has signed the Petroleum Industry Bill 2021 into law.

Femi Adesina, Special Adviser to the President
(Media and Publicity), who disclosed this in a statement on Monday said : “Working from home in five days quarantine as required by the Presidential Steering Committee on COVID-19 after returning from London on Friday August 13, the President assented to the Bill Monday August 16, in his determination to fulfill his constitutional duty.

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“The ceremonial part of the new legislation will be done on Wednesday, after the days of mandatory isolation would have been fulfilled.

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“The Petroleum Industry Act provides legal, governance, regulatory and fiscal framework for the Nigerian petroleum industry, the development of host communities, and related matters.

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“The Senate had passed the Bill on July 15, 2021, while the House of Representatives did same on July 16, thus ending a long wait since early 2000s, and notching another high for the Buhari administration.”

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