Presidential Aide, Ita Enang, has said that the updated the Petroleum Industry Bill (PIB) is now with President Muhammadu Buhari.
Enang, who is the Senior Special Assistant to the President on National Assembly matters, disclosed this when he featured on Channels TV “The Core”, an audience based programme on Wednesday, with focus on the relationship between the executive and the National Assembly in the last 20 years.
In response to a question from a member of the live audience on the status of the bill, the presidential aide said the bill which seeks to change the organisational structure and fiscal terms governing the industry has been in the works since 2008 when it was first introduced to the legislature, suffered setbacks in the sixth and seventh National Assemblies.
Buhari had at the Presidential Villa, when he hosted the newly-inaugurated national executive committee members of NUPENG led by its national president agreed with the union that the PIB needed to become an act, but explained that dialogue was ongoing on it.
“I fully agree with you that reforming the petroleum industry will unlock numerous untapped potentials for the nation. However, these reforms must be well thought out and must have the best interest of Nigeria and Nigerians as its core objective.
“Such reforms cannot and must not be rushed, if we must get it right. We are still suffering from the effects of many legacy policies that were rushed and passed without fully appreciating the consequences of the provisions embedded in them,” he said.
The National Assembly had also said the decision to withdraw the affected clauses in the bill was because the president’s observations were germane for the smooth operations of the bills.