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PIB Passes Second Reading At Senate
The Petroleum Industry Bill (PIB) 2020, yesterday, scaled second reading at the Senate after exhaustive debates by senators across party divide.
The bill was subsequently referred to the Senate Committee on Petroleum Downstream, Petroleum Upstream and Gas for further legislative action.
The committee was mandated to report back to the Senate after eight weeks.
The upper chamber also adjourned plenary for five weeks to give its committees full time for consideration of the N13.08trillion 2021 budget and interaction with ministries, departments and parastatals (MDAs)
Leading the debate on the PIB, the Senate Leader, Senator Yahaya Abdullahi, noted the objectives of the Petroleum Industry Bill.
His words: “The bill is to create efficient and effective governing institutions, with clear and separate roles and to establish a framework for the creation of a commercially oriented and profit-driven national petroleum company: To promote the exploration and exploitation of petroleum resources in Nigeria for the benefit of the Nigerian people and the efficient, effective and sustainable development of the petroleum industry; to promote the safe and efficient operation of the transportation and distribution infrastructure for the petroleum industry and the framework for developing third party access arrangements to petroleum infrastructure; and to promote the competitive and liberalized downstream petroleum industry that promotes the processing of petroleum within Nigeria and the development of fuel and chemical industry”.
According to the Senate leader, the PIB, when passed is also ”To create a conducive business environment for operations in the petroleum industry that enhances peaceful and harmonious co-existence between licensees or lessees and host communities by conferring direct social and economic benefits from petroleum operations on host communities; ensure that petroleum operations are conducted in a manner that protects the health and safety of persons, property and the environment; and establish a fiscal framework that is forward-looking, progressive and based on a simplified tax administration that encourages investment in the Nigerian petroleum industry, balancing rewards with risk and enhancing revenues to the Federal Government of Nigeria while ensuring a fair return to investors”.
He further stated that the bill was divided into five chapters each of which was further divided into different parts cutting across governance, institutions and administration of upstream, midstream and downstream services.
The leader explained that the chapter 3 of the bill deals with host communities development while Chapter 4 provides for Petroleum Industry Fiscal Framework just as chapter 5 covers Miscellaneous Provisions.
X-raying the principles of the bill, Senator Abdullahi Yahaya said, “the bill is designed and drafted-on the basis of three sets of principles which include establishment of good governance, competitiveness, global best practices and ease of doing business in the Nigeria oil and gas industry.
“Assurance of early revenues for government, simplicity of administration, equity and fairness, competitiveness and transparency.
“Predictability, responsiveness, best practice, sustainability and role clarity in the regulation and management of the industry”
The PIB according to him, proposes to transmute the current commercial entity, the Nigeria National Petroleum Corporation (NNPC) into an incorporated commercial company, the Nigeria National Petroleum Company Limited.
“It also will transform the current Department of Petroleum Resources (DPR), the Petroleum Equalization Fund Management Board (PEFMB) and the Petroleum Products Price Regulatory Agency into two new institutions, that is, the Commission and Authority.
“These new entities shall be self-funding and will not rely on appropriation. Therefore, no funding will be appropriated by the National Assembly for these entities under the Petroleum Industry Bill 2020”, he said.
The senators, in their contributions, seemed unanimous in their acceptance of the bill and the contents as many said the proposed legislation was long overdue.
The senators are of the opinion that the provisions of the bill will reinvigorate the Nigerian oil and gas sectors, create investments friendly environment, cater for the host communities and finally establish policies that will boost the nation’s economy.
In his remarks after the passage of the bill for second reading, the President of the Senate,Dr Ahmad Lawan, noted that the PIB has over stayed on the shelve, and thus time, the lawmakers must break the jinx and see that it is passed and accented to.
Lawan urged the three committees mandated to make more legislative inputs to be thorough in their work
“Distinguished colleagues, the PIB jinx must be broken by this 9th National Assembly for the required liberalization of the oil and gas sector.
“We should make the PIB as one of our legacies the way we did with the Petroleum Production Sharing Contract Bill last year “, he said.
It would be recalled that the Bill titled: “A Bill for an Act to provide legal, governance, regulatory, and fiscal framework for the Nigerian Petroleum Industry, the development of host communities and for related matters 2020” was sponsored by Senate Leader, Yahaya Abdullahi (Kebbi North).
By: Nneka Amaechi-Nnadi, Abuja
The Nigeria Immigration Service has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, disclosed this yesterday while inspecting Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
He said the centralised production system aligned with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for better service delivery.
The Federation Account Allocation Committee (FAAC) has disbursed N2.225 trillion as federation revenue for the month of August 2025, the highest ever allocation to the three tiers of government and other statutory recipients.
This marks the second consecutive month that FAAC disbursements have crossed the N2 trillion mark.
The revenue, shared at the August 2025 FAAC meeting in Abuja, was buoyed by increases in oil and gas royalty, value-added tax (VAT), and common external tariff (CET) levies, according to a communiqué issued at the end of the meeting.
Out of the N2.225 trillion total distributable revenue, FAAC said N1,478.593 trillion came from statutory revenue, N672.903 billion from VAT, N32.338 billion from the Electronic Money Transfer Levy (EMTL), and N41.284 billion from Exchange Difference.
The communiqué revealed that gross federation revenue for the month stood at N3.635 trillion. From this amount, N124.839 billion was deducted as cost of collection, while N1,285.845 trillion was set aside for transfers, interventions, refunds, and savings.
From the statutory revenue of N1.478 trillion, the Federal Government received N684.462 billion, State Governments received N347.168 billion, and Local Government Councils received N267.652 billion. A further N179.311 billion (13 per cent of mineral revenue) went to oil-producing states as derivation revenue.
From the distributable VAT revenue of N672.903 billion, the Federal Government received N100.935 billion, the states received N336.452 billion, while the local governments got N235.516 billion.
Of the N32.338 billion shared from EMTL, the Federal Government received N4.851 billion, the States received N16.169 billion, and the Local Governments received N11.318 billion.
From the N41.284 billion exchange difference, the Federal Government received N19.799 billion, the states received N10.042 billion, and the local governments received N7.742 billion, while N3.701 billion (13 per cent of mineral revenue) was shared to the oil-producing states as derivation.
The Governing Council of Kenule Beeson Saro-Wiwa Polytechnic, Bori, has decried the inadequate power supply and poor state of infrastructural facilities and equipment at the institution.
The Council also appealed to the government, including Non-Governmental Organisations, agencies, as well as well-meaning Rivers people to intervene to restore and sustain the laudable gesture, dreams and aspirations of the founding fathers of the polytechnic.
The Chairman of the newly inaugurated Council, Professor Friday B. Sigalo, made this appeal during a tour of facilities at the Polytechnic, recently.
Accompanied by members of the team, Prof Sigalo emphasised the position of technology, technical and vocational education in sustainable development.
He noted that with the prospects on ground, and the programmes and activities undertaken in the polytechnic, there is no doubt that the institution would add values to the educational system in our society and foster the desired development, if the existing challenges are jointly tackled.
This was contained in a statement signed by Deputy Registrar, Public Relations, Kenpoly, Innocent Ogbonda-Nwanwu, and made available to The Tide in Port Harcourt.
The chairman who restated the intention of his team of technocrats to ensure that KenPoly enjoys desirable face-lift, said the Council would deliver on its core mandates, accordingly.
Earlier, the Rector, KenPoly Engr. Dr. Ledum S. Gwarah, commended the appointment of Professor Friday B. Sigalo as Chairman of the KenPoly Governing Council.
He described him and his team as seasoned technocrats and expressed confidence in their ability to succeed.
The Rector pledged the management’s support to the Council to ensure that KenPoly resumes its rightful place in the comity of polytechnics in the country.
Facilities visited by the Governing Council include KenPoly workshops, laboratories, skills acquisition centre, library, hostels and medical centre.
Chinedu Wosu
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