Joint Committee

The Senate on Thursday adjourned plenary until May 18, to enable the members to observe the Sallah.

European and British regulators said on Wednesday they had found possible links between AstraZeneca’s vaccine and very rare cases of blood clots, but reaffirmed its importance in protecting people against COVID-19.

A Joint Committee of staff of Nigerian Investment Promotion Commission (NIPC) and Federal Inland Revenue Service (FIRS) on Pioneer Status Incentive (PSI) has been inaugurated over the weekend at the NIPC’s Head Office, Abuja. A Newsletter from NIPC confirmed this.

Speaker of Lagos State House of Assembly Mr Mudashiru Obasa has constituted a joint committee of Public Account Committee (Local) and Local Government Administration and Community Affairs to investigate series of abuse and misappropriation of funds in Isolo and Ikosi Isheri Local Council Development Areas, LCDAs, which has been undermining the functionality of the legislature in the councils.

Former National Chairman, Traditional Rulers of Oil Minerals Producing Communities of Nigeria, TROMPCON, HM Charles Ayemi-Botu, has advocated appropriation of not less than 25 per cent equity shareholding in the Petroleum Industry Bill, PIB, for host communities in Niger–Delta to alleviate their troubles.

The Nigerian National Petroleum Corporation (NNPC) has called for a legislative framework with clear fiscal terms in order to tap the full potential of the gas resources in the nation’s deepwater acreages.

The Minister of State for Petroleum Resources, Chief Timipre Sylva, says the Petroleum Industry Bill (PIB) currently before the National Assembly will resolve the issues under the Production Sharing Contracts (PSC) on gas.

The Nigerian National Petroleum Corporation (NNPC) has called for a legislative framework with clear fiscal terms in order to tap the full potential of the gas resources in the nation’s deepwater acreages.

The Speaker of the House of Representatives, Femi Gbajabiamila, on Monday said Nigeria’s gas sector has the potential to create millions of jobs, bring about industrialisation as well as generate more revenue for the government.

Ikpeazu, while receiving the Senate and House of Representatives Joint Committee on Petroleum Industry Bill led by Senator Albert Bassey at Government House, Umuahia, said that Abia oil-producing communities have remained peaceful more than other oil-producing communities in the country, stressing that the peaceful disposition of the communities should serve as a model for the compensation of oil-producing communities.

Cross River State governor, Prof Ben Ayade, has tasked National Assembly to handle related Petroleum Industry Bill, PIB, and other issues related to the bill with circumspection to avoid contentions that are likely to trail its ultimate passage into law.

Governor Okezie Ikpeazu of Abia state has expressed concern that despite the long years of oil exploration in the state, there has been no tangible impact on the lives of oil-producing communities in the state.

Nigeria’s oil and gas industry has lost huge investments due to the non-passage of the Petroleum Industry Bill (PIB), Governor Ifeanyi Okowa of Delta State has said.

The Senate has approved the sum of N11,352,457,101.70 as year 2020 budget for the Nigeria Police Trust Fund (NPTF), the implementation of which will lapse by April 30, 2021.

Oil prices yesterday maintained their upswing, hitting their highest in about 13 months on the back of vaccine rollouts expected to increase demand even as producers kept supply reined in.

The Minister of State for Petroleum, Mr. Timipre Sylva, on Monday disclosed that Nigeria will join the global community in achieving complete elimination of gas flaring by 2025.

The Senate on Thursday summoned the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emeifele, and the Director General of the Securities and Exchange Commission (SEC), Lamido Yuguda, to brief it on the opportunities and threats of the crypto currency on the nation’s economy and security.

The Senate on Wednesday referred President Muhammadu Buhari’s request for the confirmation of the newly appointed Chief of Defence Staff and Service Chiefs to its Joint Committee on Defence, Army, Airforce and Navy for screening.

Sen. Kabiru Gaya, Chairman, Senate Committee on Independent National Electoral Committee (INEC) says the National Assembly plans to submit the amended Electoral Bill to President Muhammadu Buhari before in February for his assent.

Data on the highly contagious COVID-19 variant identified in England do not suggest that vaccines will be less effective against it, while data on the South African variant should be available within weeks, a top British vaccines expert said.

The Senate has passed President Muhammadu Buhari’s Finance Bill 2020 transmitted to the National Assembly two weeks ago for consideration and passage.

The Group Managing Director, Nigeria National Petroleum Corporation, NNPC, Mr Mele Kyari, has warned that without the passage into law of the Petroleum Industry Bill, 2020, there would not be further foreign investments in the oil and gas industry.