Abuja - President Goodluck Jonathan on Wednesday forwarded the new Petroleum Industry Bill (PIB) to the National Assembly for passage into law.
The Minister of Petroleum Resources, Mrs Diezani Allison-Madueke, disclosed this while briefing State House Correspondents on the outcome of the Federal Executive Council (FEC) meeting.
The meeting held at the Council Chamber of the Presidential Villa, was presided over by the president with Vice-President Namadi Sambo and many ministers in attendance.
"I am pleased to announce that, this morning, the Petroleum Industry Bill 2012 was forwarded by Mr President to the National Assembly.
"We have after quite indepth review, consolidated a major scope of input into what is now the Petroleum Industry Bill.
"We had taken into consideration what was done and put before the sixth Assembly.
"But we have had to review it in great detail and rework the bill to reflect as much as possible, the entire spectrum of what we considered will be the substantial strategic framework for the petroleum industry and the amalgamation of over sixteen laws in the oil and gas sector, that will carry this nation in that sector for the years to come.
"This is therefore the definitive Petroleum Industry Bill and we expect that it will receive due consideration in the National Assembly.’’
The minister reiterated that there was no other PIB 2012, besides the one forwarded by the President to the National Assembly.
She said that the various adaptations that were seen in the social and online media did not come from the Federal Government.
"There is only one Petroleum Industry Bill 2012, which has been released today for the first time to the National Assembly, and will therefore be available on the Ministry of Petroleum Resources’ Website by this evening for down loading.
"You will notice that inside the Bill there are water marks, including a signing across the bill on each page that says `the Petroleum Industry Bill 2012’, and the Coat of Arms of the nation.
"This is the only Petroleum Industry Bill that we have produced. Therefore, all other versions or adaptations are not valid and have never been. I would like all Nigerians to please take note.’’
FEC also approved contract for the supply of regular maintenance and spare parts for two units hydro-power plants at Shiroro in Niger State.
The Minister of Power, Prof Barth Nnaji, who also briefed the correspondents, said each of the units contributed 150mw to the national grid.
He said the execution of the projects would sustain the generators for five years of dependable service.
Nnaji said the contract was awarded to Messrs Andritz Hydro GmbH, in the total sum of 2.075 Euro and completion period of eight months.
The minister said the Council also approved contract for the restoration of four plant units and balance of plant at the Omotosho Power plant.
Nnaji said only four of the eight installed units in the plant were functional.
The contract for the installation of the four others was awarded to Messrs China Machinery and Engineering Corporation in the sum of 10.09 US dollars with a completion period of six months.