UPDATE: House defies odds, passes PIB, 9 other bills

By Ayoola Mudasiru June 4, 2015 16:01

UPDATE: House defies odds, passes PIB, 9 other bills

The Petroleum Industry Bill, PIB, was passed by the House of Representatives in its final session, after over three weeks of scrutiny following the consideration of the various clauses and harmonious agreement from the house members.

Deputy Speaker of the House, Emeka Ihedioha, who presided over the passage described the bill as important to the Nation’s Petroleum industry, hence the delay as the House had to review it thoroughly.

After its passage, it was transmitted ‎to the Senate for its own action.

However, at the time the PIB was passed, the Senate of the 7th Assembly had already held its valedictory session.

Earlier, President of the Senate, David Mark, at the close of the 7th Senate expressed sadness that the PIB was one of its failed targets. This was prior to the passage of the bill, by the House.

The incoming Senate would likely not take action on the bill anytime soon, due to the leadership and power tussles trailing the incoming Assembly and will linger for a while even after the Principle Officers are elected.

This is because the next challenge will surround the allocation of committee chairmen and members.

The 368 page document that comprises of 312 sections and 438 clauses ‎brought about so much deliberations and amendments that delayed the passing of the bill by the House.

The consideration of report of the PIB, resumed after the ad hoc committee on the Petroleum Industry Bill, Chaired by the Majority Whip of the House Ishaka Bawa resolved issues that brought about major controversies.

It will be recalled that issues such as ‎revenue sharing formula as contained in clause 209 and reduction of levy on oil companies as contained in clause 116 to 119 generated some much controversy in the House and amongst its members.

In what appeared to be ‎a hurried consideration of the PIB, Ihedioha, said, “my dear colleagues I want to congratulate you so far for a job well done.”