By Oludare Mayowa
President Muhammadu Buhari on Monday signed the Petroleum Industry Bill (PIB) 2021 into law, according to his spokesman, Femi Adesina.
In a statement, Adesina said, the president who has been working from home since his return from medical leave, “assented to the Bill Monday August 16, in his determination to fulfill his constitutional duty.”
The president has been confirmed into isolate after returning from London on Friday August 13, in line with Covid-19 protocol.
“The ceremonial part of the new legislation will be done on Wednesday, after the days of mandatory isolation would have been fulfilled,” Adesina said in the statement .
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, 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.
