Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Petroleum Industry Bill forwarded to NASS

19 July 2012, 09:39

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.



Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...