After A Long Wait, Buhari Signs Controversial Petroleum Industry Bill Into Law

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

The President assented to the invoice on Monday as disclosed in a press release issued by Femi Adesina, the presidential spokesman. 

After A Long Wait, Buhari Signs Controversial Petroleum Industry Bill Into Law 2

Adeshina stated the President is working from house in 5 days’ self-isolation as required by the Presidential Steering Committee on COVID-19 after getting back from London on August 13. 

”The ceremonial a part of the brand new laws shall be carried out on Wednesday, after the times of obligatory isolation would have been fulfilled,” the assertion stated.

The Petroleum Industry Act offers a authorized, governance, regulatory and financial framework for the Nigerian petroleum trade, the event of host communities, and associated issues.

The Senate had handed the invoice on July 15, 2021, whereas the House of Representatives did the identical on July 16, thus ending a protracted wait because the early 2000s.

Some activists from civil society organisations have condemned the invoice for failing to deal with important points within the oil and fuel sector, particularly as they concern oil-rich communities. They insist that it failed to deal with neighborhood, financial and environmental issues.

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After A Long Wait, Buhari Signs Controversial Petroleum Industry Bill Into Law

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