President Muhammadu Buhari gives his assent on Petroleum Industry Bill

 

The Petroleum Industry Bill, PIG, which has been pending since the early 2000's was finally approved as President Muhammadu Buhari signed the bill.

Initially, there was opposition due to the Petroleum Industry Governance Bill allocating only 3% of funds to host community that contributes to the oil sector. The opposition came from different political heads, they are:  Governor of Bayelsa state; Douye Diri, Ijaw National leader; Edwin Clark and Senator of Bayelsa West; Seriake Dickson.

Irrespective of differences in regards to the bill, adjustments, were made after they were able to reach an agreement which was satisfactory for everyone including the petroleum host-communities.

The news was disclosed in a statement released by the Presidential Spokesman, Femi Adesina on Monday. Buhari claims giving his assent on the bill was to fulfill his constitutional duties for the benefit and development of the country.



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