The passage of the Petroleum Industry Bill (PIB) by the National Assembly on Thursday broke a 20 year-old jinx, Sen. Babajide Omoworare said.
Omoworare is Senior Special Assistant to the President on National Assembly Matters (Senate),
In a statement in Abuja on Thursday, he congratulated President Muhammadu Buhari, the Senate President, Ahmad Lawan, and the Speaker House of Representatives, Femi Gbajabiamila, on the passage of the PIB.
He noted that efforts by the Executive and Legislature in Nigeria to put in place contemporary legislative and legal framework in the oil and gas sector had proved abortive since 2000.
According to him, the non-amendment of the extant framework being the Petroleum Act of 1967, has affected inflow of Foreign Direct Investment as well as growth in Local Content.
“Breaking this jinx and achieving this feat is a testament that the executive and the legislature can really work together and truly engage each other, without compromising party position and individual perspective in the most positive manner.
“I will like to thank the entire leadership and members of the Senate and House of Representatives, as well as the Minister of State for Petroleum, Timipre Sylva.
“Also, the Group Managing Director of Nigeria National Petroleum Corporation, Mele Kyari, for their focused and tenacious attitude to achieving this milestone,” he said.