The Speaker of the House of Representatives, Femi Gbajamibila, has said the National Assembly will pass the Petroleum Industry Bill (PIB) into law by April. 

Mr. Gbajamibila said, “More important, we intend to pass this bill by April. That is a commitment we have made. Some may call it a tall order but we will do it, and we will do it with every sense of responsibility without compromising the thoroughness of the work that will be done.” 

The speaker admitted that it was disappointing and difficult to explain how successive governments failed to deliver on the PIB. 

“Ladies and gentlemen, we have an opportunity and an obligation to do better, and we will,” he promised on Wednesday during a two-day public hearing organised by the ad hoc committee on PIB. 

“Regardless of whatever other interests may exist, for this ad hoc committee and indeed the House of Representatives, Nigeria’s best interest is both our desired outcome and guiding principle. It falls to this ad hoc committee to engage in a necessary balancing act in the interests of our beloved nation,” he added.    

He said signing the bill was an opportunity for the country to meet the obligations owed to the communities that host oil and gas exploration and transportation activities and pay a high environmental price as a consequence. 

Explaining further, Mr. Gbajabiamila stated, “Whether you believe in the finite or infiniteness of the product, the point that needs to be made is that we need to derive as much profit for the time when the product is still available. We need to derive as much profit to be able to diversify into other areas.”