President Muhammadu Buhari has finally signed into law the Petroleum Industry Bill (PIB). Femi Adesina, Special Adviser on Media and Publicity to the President confirmed this in a statement signed Monday morning.
The Special adviser shared that the ceremonial part of the new legislation will be done on Wednesday after the days of mandatory isolation would have been fulfilled. “The Petroleum Industry Act provides legal, governance, regulatory and fiscal framework for the Nigerian petroleum industry, the development of host communities, and related matters.
“The Senate passed the bill on July 15, 2021, while the House of Representatives did the same on July 16, thus ending a long wait since the early 2000s, and notching another high for the Buhari administration.
Read also:Â President Buhari Goes Into Isolation After Meeting Nigerian Diplomats To UK
The president at the moment is in isolation after he returned from the UK on Friday the 13th August 2021. The president went on an 18-day trip, during which he met with ex-Lagos Governor and APC chieftain, Asiwaju Bola Ahmed Tinubu.
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