President Muhammadu Buhari has signed the Petroleum Industry Bill 2021 into law.
A statement issued by Presidential spokesman, Femi Adesina, said Buhari assented to the bill on Monday, July 16, 2021.
Adesina said the President is working from home in five days’ self-isolation as required by the Presidential Steering Committee on COVID-19 after returning from London on August 13.
”The ceremonial part of the new legislation will be done on Wednesday, after the days of mandatory isolation would have been fulfilled,” the statement said.
The Senate had passed the bill on July 15, 2021, while the House of Representatives did the same on July 16, thus ending a long wait since the early 2000s.
Some civil society organisations have condemned the bill for failing to address critical issues in the oil and gas sector, especially as they concern oil-rich communities.