The House of Representatives has passed the much-awaited Petroleum Industry Bill (PIB) into law.
The bill was passed after the Committee of the Whole considered the clauses of the bill based on the recommendation of the Committee on PIB.
Mohammed Monguno, chairman of the ad hoc committee on Petroleum Industry Bill (PIB), presented a report and the lawmakers voted on 319 clauses of the bill.
Monguno said by passing the bill, the ninth house would have succeeded in enacting important legislation.
He added that the bill would make the oil and gas industry more transparent and competitive.
After the bill was passed, the Speaker, Femi Gbajabiamila, commended the lawmakers for “making Nigeria proud”.