The Petroleum Industry Bill (PIB) 2020has passed its first reading on Senate floor during plenary on Wednesday.

The proposed legislation was presented by the Leader of the Senate, Yahaya Abdullahi, and the President of the Senate, Ahmad Lawan, read the bill for the first time.

The leadership of the National Assembly had, on Monday, promised to speed up legislative action on the Petroleum Industry Bill submitted by the President, Muhammadu Buhari two weeks ago.

The Federal parliament, however, pledged to be thoroughness in its consideration, as the principal officers said it would be treated simultaneously with the 2021 national budget.

The President of the Senate, Ahmad Lawan, and the Speaker of the House of Representatives, Femi Gbajabiamila, made this known during a National Assembly joint leadership meeting on the PIB, with the Minister of State for Petroleum, Timpre Sylva.

The meeting was attended by the Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, and other heads of the NNPC subsidiaries.

Lawan gave the confirmation that the document was transmitted to the two chambers of the National Assembly two weeks ago and that details of its contents were to be read at plenary on Tuesday.

He added that both chambers would forward the documents to their respective committees for further legislative actions as soon as Buhari’s covering letter, which accompanied the bill, was read to the lawmakers.

Details later…