Buhari Signs Petroleum Industry Bill Into Law

PRESIDENT Muhammadu Buhari has signed the Petroleum Industry Bill (PIB) 2021 into law.

The President who is currently working from home in five days quarantine as required by the Presidential Steering Committee on COVID-19 after returning from London on Friday, assented to the Bill on Monday.

It is understood that the ceremonial part of the new legislation will be done on Wednesday, after the days of mandatory isolation would have been fulfilled.

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 passed the Bill on July 15, 2021, while the House of Representatives followed suit on July 16.

Details Later……..

Editor

+ postsBio

• Editor

  https://www.primebusiness.africa/author/primeadmin/

  New Tax Act Faces Hurdles: Rent Relief Limits, Forex Restrictions Raise Concerns
• Editor

  https://www.primebusiness.africa/author/primeadmin/

  Abandoned Abroad: Tinubu Govt Accused of Sacrificing Nigerian Students’ Dreams
• Editor

  https://www.primebusiness.africa/author/primeadmin/

  Ghana Raises 20% Above Target in Treasury Bill Auction
• Editor

  https://www.primebusiness.africa/author/primeadmin/

  Ghana Mandates National ID for Financial Transactions