PIB: BUHARI TRANSMITS PIB TO SENATE
President Muhammadu Buhari has transmitted the long- awaited Petroleum Industry Bill (PIB) to the National Assembly for passage into law.
In a letter read by the Senate President, Ahmad Lawan at the resumption of plenary, the bill is expected to carry out significant reforms in the laws governing the petroleum industry.
The bill proposes among other things the scrapping of the Nigerian National Petroleum Corporation NNPC and the Petroleum Products Pricing Regulatory Agency PPPRA.
In another development, President Muhammadu Buhari has requested that the National Assembly approve the refund of N148 billion to Ondo, Bayelsa, Cross River, Osun and Rivers States for federal road projects executed in the states.
According to a letter read on the floor of the Senate, the said reimbursement was as approved by the Federal Executive Council after assessment of the various road projects.
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