Senate President Bukola Saraki has assured that the Petroleum Industry Governance Bill will be ready before the upper chamber embarks on recess this year.
He stated this on Wednesday while declaring open a public hearing on the Petroleum Industry Governance Bill in Abuja, organised by the Joint Committee on Petroleum Upstream, Petroleum Downstream and Gas.
Unconfirmed reports say the upper chamber will embark on recess from December 15, a day after President Muhammadu Buhari’s presentation of the 2017 budget to a joint session of the National Assembly.
According to Saraki, the report will be considered and passed when the Senate resumes from recess next year.
Experts say Nigeria loses $15billion annually due to non-passage of the bill.
Responding on behalf of the committee, Chairman, Senate Committee on Gas, Albert Bassey, assured that the panel will meet the deadline set by the Senate President.
The public hearing is ongoing.
In his presentation, the Group Managing Director (NNPC), Maikanti Baru supports the unbundling of the Corporation and called for distinction of roles between the Minister of Environment and the Petroleum Minister.