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BREAKING: BUHARI SIGNS PETROLUEM INDUSTRY BILL (PIB) INTO LAW

President Muhammadu Buhari, on Monday, signed the Petroleum Industry Bill (PIB) into law.

The Petroleum Industry Act provides framework for the Nigerian petroleum industry, the development of host communities, and related matters.

The Senate had passed the PIB Bill on July 15, while the House of Representatives passed it on July 16.

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

It reads: “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 fulfil his constitutional duty.

“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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