The Minister of State for Petroleum, Timipre Sylva has assured that the Petroleum Industry Bill would be passed by the National Assembly by the middle of 2020.
The Minister revealed that the review of the bill is at an advanced stage.
Sylva made the announcement in a statement to mark the new year.
The minister, while reviewing the performance of the petroleum ministry, described 2019 as a very busy and prosperous year for the ministry and its agencies.
According to him, the ministry’s achievements included Amendment of the Deep Offshore (and Inland Basin Production Sharing Contact) Act, and signing of Final Investment Decision on the Nigerian Liquefied Natural Gas (NLNG) Train 7 Project.
He said others were the discovery of crude oil in the Upper Benue Trough and the hosting of the Extraordinary Session of the Council of Ministers of the African Petroleum Producers Organisation and the emergence of Nigeria’s Dr Omar Ibrahim as its Secretary General
“We thank every Nigerian, all our key stakeholders, heads of agencies of the ministry: Nigerian National Petroleum Corporation, Department of Petroleum Resources, Petroleum Technology Development Fund and Nigerian Content Development and Monitoring Board.
“Petroleum Products Pricing Regulatory Agency, Petroleum Equalisation Fund (Management) Board, Nigerian Nuclear Regulatory Authority and the Petroleum Training Institute) and every member of staff, for all the support.
“We look forward to delivering on all our aspirations as we remain committed and focused in the New Year,” Sylva added.
