The Senate and House of Representatives have passed the Petroleum Industry Bill (PIB).
The bill was first passed at the house of reps after the Committee of the Whole considered the clauses of the bill based on the recommendation of the Committee on PIB.
Mohammed Monguno, chairman of the ad hoc committee on Petroleum Industry Bill (PIB), presented a report and the lawmakers voted on 319 clauses of the bill.
Monguno said by passing the bill, the ninth house would have succeeded in enacting important legislation.
He added that the bill would make the oil and gas industry more transparent and competitive.
After the bill was passed, the Speaker, Femi Gbajabiamila, commended the lawmakers for "making Nigeria proud".
At the senate, the bill was passed after a clause by clause consideration of the report of its joint committee on Petroleum (Upstream, Downstream and Gas) on PIB.
Senate President Ahmad Lawan congratulated the lawmakers and said the Ninth National Assembly has achieved one of its fundamental legislative agenda.
