The Nigerian Senate has adjourned plenary till November 24th, 2020. The announcement was made by the Senate President Ahmad Lawan at the end of plenary on Thursday.
According to Lawan, the move to adjourn was intended to allow the various Ministries, Departments and Agencies (MDAs) of government defend their respective budgets for the 2021 fiscal year before the relevant committees.
Meanwhile, Lawan has said that the National Assembly will carry out meticulous work on the Petroleum Industry Bill presently before both chambers.
Lawan stated this in his remarks after a bill for an Act to Provide Legal, Governance, Regulatory And Fiscal Framework for the Petroleum Industry, the Development of Host Communities passed second reading on the floor of the Senate on Tuesday.
The Senate President while describing the PIB as one of the legacies to be left behind by the ninth National Assembly, assured that the piece of legislation would be subject to thorough scrutiny by the National Assembly.
According to him, the bill would be tailored to provide the needed legal framework for the petroleum industry in Nigeria, as well as guarantee a win-win situation for the country and investors.
“Let the PIB be one of our legacies, and because this time we have adopted a different approach as a result of our experiences in the past, it is looking possible that this bill will be passed after serious scrutiny and consideration of the National Assembly Chambers, and the President would sign the bill into an Act. So, let’s make it a part of our legacy as the ninth Senate.
“I want to take this opportunity to call on investors across the world, that this National Assembly is determined to go all the way, and we have the credentials to prove that, to pass this bill.
