National Assembly adopts GDP after 20 years
The Nigerian Senate and House of Representatives made history Thursday by passing the Oil Industry Bill (GDP) after two decades.
The House of Representatives first passed the bill, before the Senate followed suit.
In the House, the chairman of the ad hoc committee on GDP, Representative Mohammed Tahir Monguno moved to consider the motion at around 1 p.m.
Mongunu said, “That the House consider the report of the Ahoc Committee on the Petroleum Industry Bill on a law to provide a legal, governance, regulatory and fiscal framework for the Nigerien petroleum industry, the development of host communities; and for related matters, 2021 (HB. 1061) and endorse the recommendations therein. “
The deputies unanimously adopted the 319 articles of the bill’s report to make history.
The GDP had spent about 20 years in the National Assembly, not having been passed by previous assemblies until the House passed it on Thursday.
By Thursday, third reading of the bill will be a mere formality that will soon be completed by the House.
Reacting to the House’s action, the President, Representative Femi Gbajabiamila, described it as a “historic achievement”.
The speaker congratulated the 74 members of the PIB Committee and the whole House for a job well done.
He said: “I want to take this opportunity to underscore the point made by the Hon. Mongouno. It is to underline the magnitude of what this House has just done today. It’s been 20 years to come.
“I would like to congratulate the 74 wise men who produced this bill and who became the voices of the 360 members.
“This 9th Assembly will be on the right side of history.
The speaker took the opportunity to reaffirm that even the draft law (amendment) on the electoral law would be adopted in the coming days.
In the Senate, a similar scenario occurred.
After the article-by-article examination of the report of its joint commission on petroleum (upstream, downstream and gas) on the GDP, the bill intensified the legislative examination.
Among the highlights of the legislation is the three percent of revenues generated by oil companies for host communities.
South-South lawmakers had advocated 5 percent.
Prior to the passage of the bill, the Senate held a closed session with the Minister of State for Petroleum, Chief Timipre Sylva and the Group Director General of the Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari. .
Senate Speaker Ahmad Lawan congratulated lawmakers.
He said the 9th National Assembly had carried out “one of its fundamental legislative programs”.
“The demons (of GDP) have been defeated in this House. We passed the bill, ”he said.