PRESIDENT Muhammadu Buhari, on Monday, signed the Petroleum Industry Bill, PIB, 2021 into law. 

Special Adviser to the President on Media and Publicity, Chief Femi Adesina, disclosed this in a statement he issued in Abuja.

According to the statement, “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 a legal, governance, regulatory and fiscal framework for the Nigerian petroleum industry, the development of host communities, and related matters.

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Recall that the Senate had passed the Bill on July 15, while the House of Representatives did the same on July 16,.

The National Assembly’s signing ended a long wait since early 2000s.


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