President Muhammadu Buhari has signed the Petroleum Industry Bill
2021 into law.
This is according to a statement signed by presidential spokesperson
Femi Adesina.
According to the statement, President Buhari signed the bill into law
while in quarantine, after his arrival from the United Kingdom.
The statement added 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 had passed the bill on July 15 and the House of
Representatives followed suit0 on July 16, thus ending a long wait since
the early 2000s.
