Senate President Ahmad Lawan has explained why it will be difficult for the national assembly to pass the Petroleum Industry Bill (PIB).
Lawan who spoke at an event to mark his 62nd birthday in Abuja on Tuesday January 12, said some forces within the country and outside are working to frustrate the passage of the Petroleum Industry Bill (PIB).
He affirmed that the world and not just Nigerians are waiting for the legislation to be passed.
“The PIB is like a demon. That PIB thing, there are people both inside and outside the country, who would work against it, but it is going to take the strength of our patriotism to pass it.
“By the grace of God, when we resume, we will start work on the Petroleum Industry Bill. That is going to be one heck of a legislation that not only Nigeria but the entire world is waiting – because that will change our economy. Money will start flowing.”Loading...
The Senate President who said it took the firm resolve of the national assembly to pass the Deep Offshore and Inland Basin Production Sharing Contract Bill in 2019, added that the passage of the bill by the legislature caused an increment to the country’s revenue profile from deep offshore activities from $216 million to $2 billion dollars annually.
“For that singular act that we lost billions of dollars, where we were supposed to be given $2 billion dollars, they were giving us $216 million. But from last year after the amendment, it is now $2 billion dollars,” he said.
“People didn’t celebrate us, even though they knew what happened. That was what we did for our country, we are proud of ourselves as members of the National Assembly that we have done something worthwhile for our country.
“That is what we intend to do with the PIB by the grace of God.”