The House of Representatives has announced its plan to pass the Petroleum Industry Bill, PIB, by end of the first quarter of 2021.
The Ad Hoc Committee on PIB disclosed this in Abuja on Wednesday.
Newsmen reports that the House had on Tuesday passed the bill for second reading.
The Speaker, Femi Gbajabiamilia, had referred the bill to the committee for further legislative processes.
Chief Whip of the House and Chairman of the committee, Mohammed Monguno, in his opening speech at the inaugural meeting of the panel on Wednesday, noted that the PIB, when passed into law, would improve clarity of structures, roles accountability, transparency and overall efficiency and effectiveness of the institutions in the oil industry.
The lawmaker stated that the committee would do its best by engaging various stakeholders, civil societies and general public by subjecting the bill to detailed and public scrutiny to ensure that Nigerians were carried along.