The Senate President, Ahmad Lawan, said on Tuesday Nigeria would generate more revenue from the oil and gas industry with the passage of the Petroleum Industry Bill (PIB).
Lawan, who disclosed this during a chat with journalists in Abuja, said the Senate would consider the PIB for passage when they resume from the Christmas break on January 26.
The briefing was put together by the upper legislative chamber as part of activities marking its president’s 62nd birthday.
He described the PIB as a very important piece of legislation that would get the lawmakers’ necessary attention when they resume plenary.
He said: “By the grace of God when we resume, we will start work on the Petroleum Industry Bill (PIB); that is going to be one legislation that not only Nigeria but the entire world is waiting for because that will change our economy.
“Money will start flowing. So we want you (journalists) to be in that journey with us so that you too, when the history of PIB passage and assent will be written, your names will be reflected.
“We promised Nigerians that we are going to achieve that by the grace of God in 2021.”
The Senate president, however, said there were people within and outside the country who were opposed to the passage of the bill.
“There are people both within and outside the country who will work against it but it is going to take the strength of our patriotism to pass it,” Lawan added.
He assured Nigerians that the Senate would give the PIB the same attention accorded the Deep Offshore Production Sharing Contract bill.
“When in 2019, we said we will pass the amendment to the Deep Offshore Production Sharing Contract in this House, we spent nights.
“We close by 2:00 a.m. or 3:00 a.m., just working to amend that act, people didn’t want it to happen because it stopped what has been happening for 20 years.
“In a week, they thought it was a joke. In a week we finished the amendment because the House was on recess, the day they returned, they concurred.
“Mr. President knew how important that amendment was. He was in London and that bill was flown to him and he signed on a Sunday just to give that amendment the validity that was needed,” he concluded.
President Muhammadu Buhari forwarded the PIB to the Senate for consideration in September last year.
