Reps address Buhari’s concern, passes PIGB bill

The house of representatives on Thursday passed the petroleum industry governance bill (PIGB) after removing the provisions President Muhammadu Buhari disagreed with while declining to assent to bill earlier.

In passing the bill, the house noted that it agreed with the President’s obsernations are germane for the smooth operations of the bills.

It will be reacalled that Buhari while rejecting the bill, cited constitutional reasons which includes-

-a) That the provision of the Bill permitting the Petroleum Regulatory commission to retain as much as 10% of the revenue generated unduly increases the funds accruing to the Petroleum Regulatory commission to the detriment of the revenue available to the Federal, States, Federal capital Territory and Local governments in the country.

-b) Expanding the scope of Petroleum equalisation fund and some provisions in divergence from this administration’s policy and indeed conflicting provisions on independent petroleum equalisation fund.

-c) Some legislative drafting concerns which, if Assented to in the form presented will create ambiguity and conflict in interpretation.”