Amid controversy trailing the recently passed Petroleum Industry Bill (PIB), President Muhammadu Buhari has signed the bill into law.
Buhari’s assent to the bill was contained in a statement issued by the Special Adviser to the President on Media and Publicity, Chief Femi Adesina on Monday in Abuja.
The President who immediately went into isolation after his return from the Unites Kingdom reportedly assented to the bill from home.
“The ceremonial part of the new legislation will be done on Wednesday, after the days of mandatory isolation would have been fullfilled.”
The Petroleum Industry Act provides legal, governance, regulatory and fiscal framework for the Nigerian petroleum industry, the development of host communities, and related matters.
Recall that the Senate had passed the Bill on July 15, 2021, while the House of Representatives did same on July 16, thus ending a long wait since early 2000s, and notching another high for the Buhari administration.
