By Ife Osemedua
365Daily – President Muhammadu Buhari on Monday, August 16, 2021, signed the Petroleum Industry Bill (PIB) 2021, into law.
Special Adviser on Media and Publicity to the President, Femi Adesina, made this known on Monday, in a press statement.
He said the President, though on a five- day quarantine required by the Presidential Steering Committee on COVID-19, signed the Bill in order to meet the constitutional time limit required for assent to the Bill.
Buhari returned from London on Friday, August 13, where he had gone for routine medical checkup.
Adesina said the President will perform the ceremonial signing of the new legislation on Wednesday when the days of mandatory isolation would have elapsed.
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.
Spread the love