By Emeka Okafor
Despite opposition from governors and leaders of the Niger Delta region, President Muhammadu Buhari has signed the Petroleum Industry Bill into law.
The President signed the bill which provides legal framework for the nation’s oil and gas industry into law on Monday.
Leaders of the region had kicked against some provisions including the three per cent funding for host communities in the bill.
However, Buhari, who is currently observing self-isolation upon his return from the United Kingdom, signed the bill without any ceremony.
The President’s Special Adviser on Media and Publicity, Femi Adesina, announced the signing into law of the bill in a statement.
According to him, “Working from home in five days quarantine as required by the Presidential Steering Committee on COVID-19 after returning from London on Friday August 13, the President assented to the Bill Monday August 16, in his determination to fulfill his constitutional duty.
“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, 2021, while the House of Representatives did same on July 16, thus ending a long wait since early 2000s, and notching another high for the Buhari administration.
