TheCable

Senate President Ahmad Lawan says some forces within the country and outside are working to frustrate the passage of the Petroleum Industry Bill (PIB) by the national assembly.

Speaking with journalists at an event to mark his 62nd birthday in Abuja on Tuesday, Lawan said it is going to take strength and patriotism to pass the bill.

There have been failed attempts by previous assemblies to pass the legislation for the country’s oil sector.

In the case of the seventh assembly, the lower legislative chamber passed the bill but the senate failed to concur with it.

The eight assembly subsequently broke the PIB into five components and passed the petroleum industry governance bill (PIGB) but President Muhammadu Buhari failed to sign the bill, citing some constitutional reasons.

The senate president said it is not only Nigerians that are waiting for the legislation to be passed, but the world.

“The PIB is like a demon,” the number three citizen said.

“That PIB thing, there are people both inside and outside the country, who would work against it, but it is going to take the strength of our patriotism to pass it.

“By the grace of God, when we resume, we will start work on the Petroleum Industry Bill. That is going to be one heck of a legislation that not only Nigeria but the entire world is waiting – because that will change our economy. Money will start flowing.”

Lawan said it took the “firm resolve” of the national assembly to pass the Deep Offshore and Inland Basin Production Sharing Contract Bill in 2019.

According to him, the passage of the bill by the legislature caused an increment to the country’s revenue profile from deep offshore activities from $216 million to $2 billion dollars annually.

“For that singular act that we lost billions of dollars, where we were supposed to be given $2 billion dollars, they were giving us $216 million. But from last year after the amendment, it is now $2 billion dollars,” he said.

“People didn’t celebrate us, even though they knew what happened. That was what we did for our country, we are proud of ourselves as members of the National Assembly that we have done something worthwhile for our country.

“That is what we intend to do with the PIB by the grace of God.”