TheCable

A bill seeking to amend the Petroleum Industry Act (PIA) has passed second reading at the senate.

The bill passed after Abdullahi Yahaya, senate leader, moved a motion on the floor of the upper legislative chamber on Wednesday.

While leading a debate on it, Yahaya said the bill when passed will consolidate on the gains the national assembly has made in giving a framework to the oil and gas sector.

“This will further consolidate on the gains we have made,” he said.

Senate President Ahmad Lawan referred the bill to the joint committees on upstream and downstream for further legislative action.

The joint panel is expected to report back to plenary in four weeks.

The senate’s action comes after a request by President Muhammadu Buhari.

Last week, Buhari asked the national assembly to amend the act, citing unbalanced geopolitical representation.

The president said, having studied the administrative structure of the Nigerian Upstream Regulatory Commission (Commission) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (Authority), he is proposing some amendments.

“The PIA provided for the appointment of two non-executive members for the board of the two institutions,” he said.

“I am of the view that this membership initiates limitation and does not address the principle of balanced geopolitical representation of the country

“I, therefore, pray for the intervention of the ninth assembly to correct this oversight in the interest of national unity.”