- Oil Revenue, PIB
President of the Senate Ahmad Lawan says Nigeria will generate more revenue with the passage of the Petroleum Industry Bill (PIB).
Lawan made this known while addressing Senate Correspondents at a forum to mark his 62nd birthday in Abuja on Tuesday, Eko hot blog gathered.
He said that the Senate would on resumption from the Christmas break on Jan. 26, consider the bill for passage.
According to him, the PIB is an important legislation that will be given the necessary attention on our resumption.
“By the grace of God when we resume, we will start work on the Petroleum Industry Bill (PIB); that is going to be one legislation that not only Nigeria but the entire world is waiting for because that will change our economy.
“Money will start flowing so we want you to be in that journey with us so that you too, when the history of PIB passage and assent will be written, your names will be reflected.
“We promised Nigerians that we are going to achieve that by the grace of God in the year 2021,’’ the Senate president said.
He, however, said that there were people within and outside the country who were opposed to the passage of the bill.
“There are people both within and outside the country who will work against it but it is going to take the strength of our patriotism to pass it,” Lawan said.
He further said that the PIB would be given the same speed accorded the Deep Offshore Production Sharing Contract bill.
“When in 2019, we said we will pass the amendment to the Deep Offshore Production Sharing Contract in this house, we spent nights.
“We close by 2a.m., 3a.m., just working to amend that act, people didn’t want it to happen because it stopped what has been happening for 20 years.
“In a week, they thought it was a joke. In a week we finished the amendment because the house was on recesse, the day they returned, they concurred.
“Mr President knew how important that amendment was. He was in London and that bill was flown to him and he signed on a Sunday just to give that amendment the validity that was needed,” he said.
Lawan added:“We lost billions of naira because we were supposed to be given 2 billion dollars every year in the last 20 years; they were giving us 216 million dollars.