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New PIB forwarded to National Assembly

President Goodluck Jonathan has forwarded the new Petroleum Industry Bill, PIB, to the National Assembly for passage into law.

Minister of Petroleum Resources, Mrs. Diezani Allison-Madueke made this known while briefing Newsmen on the outcome of the Federal Executive Council, FEC, meeting.

She said Council after an in-depth review, consolidated a major scope of input into what is now the Petroleum Industry Bill.

Mrs. Allison-Madueke said the various adaptations seen in the social and online media did not come from the Federal Government, stressing that there is only one Petroleum Industry Bill 2012, which has been released for the first time to the National Assembly and will be available on the Ministry of Petroleum Resources’ Website for down loading.

The FEC also approved contract for the supply of regular maintenance and spare parts for two units hydro-power plants at Shiroro in Niger State.

The Minister of Power, Professor Barth Nnaji said each of the units contributed one hundred and fifty megawatts to the national grid, adding that the execution of the projects would sustain the generators for five years of dependable service.

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