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JUST IN: President Buhari signs Petroleum Industry Bill into law

By Uchechi Ojo August 16, 2021364 views

President Muhammadu Buhari has signed the Petroleum Industry Bill 2021 into law.

This is according to a statement signed by presidential spokesperson Femi Adesina.

According to the statement, President Buhari signed the bill into law while in quarantine, after his arrival from the United Kingdom.

“The ceremonial part of the new legislation will be done on Wednesday, after the days of mandatory isolation would have been fulfilled,” the statement said.

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

The Senate had passed the bill on July 15 and the House of Representatives followed suit0 on July 16, thus ending a long wait since the early 2000s.

Uchechi Ojo

Uchechi Ojo, is a Lagos-born and based writer, newscaster and voice-over artist. A versatile and committed journalist with the yearning to make a difference in the industry. She writes balanced, informative and interesting stories. Uchechi has the ability to interact and listen with rapt attention, excellent time management and great communication skills while paying attention to detail. She is very approachable and a good team player. Instagram | LinkedIn