• About Us
  • Terms & Conditions
  • Contact Us
Thursday, March 23, 2023
Investogist
No Result
View All Result
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    CJN Ariwoola disguised on wheelchair for a secret meeting with Bola Tinubu in London

    CJN Ariwoola disguised on wheelchair for a secret meeting with Bola Tinubu in London

    BREAKING: Ekweremadu, wife, doctor found guilty of organ trafficking

    BREAKING: Ekweremadu, wife, doctor found guilty of organ trafficking

    SEC sues Tron founder Justin Sun, Lindsay Lohan, other celebrities over crypto sales

    SEC sues Tron founder Justin Sun, Lindsay Lohan, other celebrities over crypto sales

    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    Protest at all offices of the Central Bank – NLC directs workers

    Gov. Elections: INEC declares winner of Enugu State governorship election

    Gov. Elections: INEC declares winner of Enugu State governorship election

    How Labour Party won Abia State governorship election

    How Labour Party won Abia State governorship election

    Gov. Elections: Alex Otti of LP wins Abia State governorship election

    Gov. Elections: Alex Otti of LP wins Abia State governorship election

    JUST IN: ‘13 Parties’ threaten to pull out of 2023 Elections over naira redesign

    We will use all available sanctions against those who undermined Nigeria’s Polls – US

    INEC disowns online voter registration website

    INEC to resume collation of Gov. election results in Enugu and Abia state

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    CBN raises interest rate for the 6th consecutive time

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

    Law to legalize crypto as a payment method passed in Brazil

    Will Nigerians in diaspora be committing an offence if they make a campaign donation?

    Rivers and Oyo State to join others in establishing small claims courts

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    List of Stockbrokers in Nigeria

    List of Stockbrokers in Nigeria

    MTN Nigeria to pay over N200 billion final dividend for 2022

    Custodian Investments Plc announces 55 kobo final dividend for 2022 FY

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX-ASI lost by 0.09%, as STANBIC loses 8.52%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX-ASI Lost By 1.04%, as banking sector drops 1%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The Local Bourse declined by 0.42%, as FLOURMILL loses 5.92%

    Again DMO offers N360 billion FGN bond for February

    The DMO auctions 4 FGN Bonds worth N360bn in March

    Guaranty Trust Holding Company profit dips to N77.56 billion in H1 2022

    The NGX-ASI Declined by 0.12%, as GTCO loses 3.08%

    Why Bitcoin fell below $20,000 for the first time in nearly 2 months

    Bitcoin rises over 18% as cryptos surge in renewed hope

    Weekly Market Report: NGX rose 0.48% as Conoil shareholders lose 18.89%

    Weekly Market Report: NGX rose 0.48% as Conoil shareholders lose 18.89%

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    FG agrees to pay $496 million as settlement claim for Ajaokuta Steel, others

    Seplat Energy Plc takes legal action against Orjiako

    Credit Suisse shares plunged on Monday after acquisition by rival UBS

    Credit Suisse shares plunged on Monday after acquisition by rival UBS

    Approval given for acquisition of International Energy Insurance Plc

    UBS agrees to buy troubled 167 years old rival, Credit Suisse

    Unilever Nigeria Plc Board of Directors approve Tea Business Separation Process

    Unilever Nigeria makes changes to its business model

    CAP Plc Shareholders approve N2.10kobo dividend per ordinary share for 2020 financial year

    Stanbic IBTC announced N2.00 final dividend for 2022 FY

    CEO of Ecobank Group to retire, new CEO announced

    Ecobank Transnational Incorporated announces delay in publication of 2022 result

    President Biden approves major Oil and Gas drilling project in Alaska

    President Biden approves major Oil and Gas drilling project in Alaska

    BUA Cement Plc announces N2.80 dividend for 2022 Financial Year

    BUA Cement Plc announces N2.80 dividend for 2022 Financial Year

    Obajana Cement Plant has commenced full operation – Dangote Cement Plc

    Dangote Cement Plc establishes new share buy-back programme

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 1

    Building a Successful Business Organization: Lessons from the Bible

    Building a Successful Business Organization: Lessons from the Bible

    2023 Bible Lessons on Setting your Financial/Investment Goals

    2023 Bible Lessons on Setting your Financial/Investment Goals

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    CJN Ariwoola disguised on wheelchair for a secret meeting with Bola Tinubu in London

    CJN Ariwoola disguised on wheelchair for a secret meeting with Bola Tinubu in London

    BREAKING: Ekweremadu, wife, doctor found guilty of organ trafficking

    BREAKING: Ekweremadu, wife, doctor found guilty of organ trafficking

    SEC sues Tron founder Justin Sun, Lindsay Lohan, other celebrities over crypto sales

    SEC sues Tron founder Justin Sun, Lindsay Lohan, other celebrities over crypto sales

    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    Protest at all offices of the Central Bank – NLC directs workers

    Gov. Elections: INEC declares winner of Enugu State governorship election

    Gov. Elections: INEC declares winner of Enugu State governorship election

    How Labour Party won Abia State governorship election

    How Labour Party won Abia State governorship election

    Gov. Elections: Alex Otti of LP wins Abia State governorship election

    Gov. Elections: Alex Otti of LP wins Abia State governorship election

    JUST IN: ‘13 Parties’ threaten to pull out of 2023 Elections over naira redesign

    We will use all available sanctions against those who undermined Nigeria’s Polls – US

    INEC disowns online voter registration website

    INEC to resume collation of Gov. election results in Enugu and Abia state

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    CBN raises interest rate for the 6th consecutive time

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

    Law to legalize crypto as a payment method passed in Brazil

    Will Nigerians in diaspora be committing an offence if they make a campaign donation?

    Rivers and Oyo State to join others in establishing small claims courts

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    List of Stockbrokers in Nigeria

    List of Stockbrokers in Nigeria

    MTN Nigeria to pay over N200 billion final dividend for 2022

    Custodian Investments Plc announces 55 kobo final dividend for 2022 FY

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX-ASI lost by 0.09%, as STANBIC loses 8.52%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX-ASI Lost By 1.04%, as banking sector drops 1%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The Local Bourse declined by 0.42%, as FLOURMILL loses 5.92%

    Again DMO offers N360 billion FGN bond for February

    The DMO auctions 4 FGN Bonds worth N360bn in March

    Guaranty Trust Holding Company profit dips to N77.56 billion in H1 2022

    The NGX-ASI Declined by 0.12%, as GTCO loses 3.08%

    Why Bitcoin fell below $20,000 for the first time in nearly 2 months

    Bitcoin rises over 18% as cryptos surge in renewed hope

    Weekly Market Report: NGX rose 0.48% as Conoil shareholders lose 18.89%

    Weekly Market Report: NGX rose 0.48% as Conoil shareholders lose 18.89%

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    FG agrees to pay $496 million as settlement claim for Ajaokuta Steel, others

    Seplat Energy Plc takes legal action against Orjiako

    Credit Suisse shares plunged on Monday after acquisition by rival UBS

    Credit Suisse shares plunged on Monday after acquisition by rival UBS

    Approval given for acquisition of International Energy Insurance Plc

    UBS agrees to buy troubled 167 years old rival, Credit Suisse

    Unilever Nigeria Plc Board of Directors approve Tea Business Separation Process

    Unilever Nigeria makes changes to its business model

    CAP Plc Shareholders approve N2.10kobo dividend per ordinary share for 2020 financial year

    Stanbic IBTC announced N2.00 final dividend for 2022 FY

    CEO of Ecobank Group to retire, new CEO announced

    Ecobank Transnational Incorporated announces delay in publication of 2022 result

    President Biden approves major Oil and Gas drilling project in Alaska

    President Biden approves major Oil and Gas drilling project in Alaska

    BUA Cement Plc announces N2.80 dividend for 2022 Financial Year

    BUA Cement Plc announces N2.80 dividend for 2022 Financial Year

    Obajana Cement Plant has commenced full operation – Dangote Cement Plc

    Dangote Cement Plc establishes new share buy-back programme

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 1

    Building a Successful Business Organization: Lessons from the Bible

    Building a Successful Business Organization: Lessons from the Bible

    2023 Bible Lessons on Setting your Financial/Investment Goals

    2023 Bible Lessons on Setting your Financial/Investment Goals

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
No Result
View All Result
Investogist
No Result
View All Result
Home News

Just in: Petroleum Industry Bill scales first reading in Senate

Wednesday, 30 September 2020, 1:32 pm
in News
0
Revealed: Osun Senator spent N2.5m out of N40m training allocation
Share Share Share Share Send as Email

The Petroleum Industry Bill, (PIB 2020) passed first reading on the floor of the Senate during plenary on Wednesday.

The controversial bill was presented by Yahaya Abdullahi, the Leader of the Senate, and was read for the first time by the Ahmad Lawan, the President of the Senate.

The Group Managing Director of the Nigerian National Petroleum Corporation, Mallam Mele Kyari, had last week said that international investors are losing confidence in the Nigeria oil industry, especially in the upstream sector.

NNPC boss said that growth in the industry is being inhibited by lack of stable fiscal environment in the country.

He noted that the delay in the passage of the Petroleum Industry Bill has led to the recent divestments from the country.

Read more; Foreign investors losing confidence in Nigeria’s oil industry — Kyari

On Monday, The President of the Senate, Ahmad Lawan, and the Speaker of the House of Representatives, Femi Gbajabiamila  pledged to accelerate legislative action on the PIB

The President of the Senate, Ahmad Lawan directed the Clerk of the Senate, Dauda Ibrahim El- Ladan to ensure that all the Senators must start getting  the copies by tomorrow and ensure that they all have them on Tuesday next week.

Punch had on Monday reported that Nigerian National Petroleum Corporation (NNPC) and the Petroleum Products Pricing Regulatory Agency (PPPRA) would be scrapped in the new bill.

NNPC would be replaced with Nigerian National Petroleum Company Limited while Nigerian Upstream Regulatory Commission which will be responsible for the technical and commercial regulation of upstream petroleum operations will be established according to the report.

However, the Minister of State for Petroleum Resources, Mr Timipre Sylva, later said that NNPC would not be scrapped when the Petroleum Industry Bill is signed into law.

According to him the agency would be fully commercialized in the interest of Nigerians.

He said, “I have heard a lot of noise about the NNPC being scrapped but that is not envisaged by the bill at all.

“We’ve said that the NNPC will be commercialized in the interest of Nigerians”

PIB 20 years on

PIB has been in the works for over 20 years. President, Olusegun Obasanjo, inaugurated the Oil and Gas Reform Implementation Committee in April 2000, to review and streamline all existing petroleum laws and establish an all-inclusive regulatory framework for the industry.

President Umaru Yar’Adua continued the project and the PIB was presented to the Sixth National Assembly in September 2008. But the disagreements on the sharing of oil profit among the international oil companies, host communities and the federation, stalled the bill according to the Nigeria Extractive Industries Transparency Initiative.

In July 2012, the revised version of the bill was sent to the Seventh Assembly, by President Goodluck Jonathan administration.  It was passed by only the House of Representatives at the tail end of their term.

In the first term of Buhari, the Eighth NASS split the bill into four parts – the Petroleum Industry Governance Bill, Petroleum Industry Administration Bill, Petroleum Industry Fiscal Bill and Petroleum Host Community Bill — in a bid to fast-track its passage into law.

The PIGB was passed by the Senate and the House of Representatives in May 2017 and January 2018 respectively.

In July 2018, the PIGB passed by NASS was transmitted to Buhari for assent but he eventually declined to sign the bill into law.

The Presidency sited the provision of the PIGB permitting the Petroleum Regulatory Commission to retain as much as 10% of the revenue generated as one of the reasons the President declined to assent to the bill.

Written by;

Ifunanya Ikueze

Related Posts:

  • Just in: Reps pass Petroleum Industry Bill for second reading
    Just in: Reps pass Petroleum Industry Bill for second…
  • Bill to scrap NYSC reaches second reading in House of Reps
    Bill to scrap NYSC reaches second reading in House of Reps
  • Bill to create state police, security outfits pass second reading in the House of Reps
    Bill to create state police, security outfits pass second…
  • Senate passes bill to unbundle NIPOST, its operations restricted
    Senate passes bill to unbundle NIPOST, its operations…
Previous Post

Market Spotlight: Additional shares of Dangote Sugar Refinery Plc Listed

Next Post

Just in: FG lifts ban on Emirates Airlines, UAE to issue Visa to Nigerians

Next Post
Emirates Airlines barred from operating in Nigeria – FG

Just in: FG lifts ban on Emirates Airlines, UAE to issue Visa to Nigerians

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Thugs invade INEC office in Abia State.

Abia State House of Assembly election results – INEC

MTN Nigeria to pay over N200 billion final dividend for 2022

List of Dividends announced in 2023, qualification and payment dates

More than 70 feared dead as boat capsizes in Anambra

Anambra state House of Assembly election results

Gunmen invade Imo community, destroy properties

Imo state House of Assembly election results announced by INEC

CJN Ariwoola disguised on wheelchair for a secret meeting with Bola Tinubu in London

CJN Ariwoola disguised on wheelchair for a secret meeting with Bola Tinubu in London

BREAKING: Ekweremadu, wife, doctor found guilty of organ trafficking

BREAKING: Ekweremadu, wife, doctor found guilty of organ trafficking

SEC sues Tron founder Justin Sun, Lindsay Lohan, other celebrities over crypto sales

SEC sues Tron founder Justin Sun, Lindsay Lohan, other celebrities over crypto sales

FG agrees to pay $496 million as settlement claim for Ajaokuta Steel, others

Seplat Energy Plc takes legal action against Orjiako

Investogist
info@investogist.com

Follow us

Categories

  • Africa
  • Agriculture
  • Arts & Culture
  • Budgets
  • Business
  • Columnists
  • Commodities
  • Companies
  • Cryptocurrencies
  • Economic Data
  • Economy
  • Editorials
  • Financial Education
  • Football
  • Forex
  • Industry
  • Investogist Business Saturday
  • Job Opportunities
  • Markets
  • Nature
  • News
  • Nigeria
  • Op-ed
  • Opinion & Analysis
  • Places & People
  • Policies
  • Rates & Bonds
  • Sports
  • Stocks/Equities
  • Technology
  • Travel & Tours
  • Vacancies
  • World

Quick Links

  • News
  • Economy
  • Markets
  • Business
  • Opinion & Analysis
  • Travel & Tours

Newsletter

Copyright © 2023 investogist.com, All Rights Reserved

  • About Us
  • Terms & Conditions
  • Privacy Policy
  • Contact Us
No Result
View All Result
  • Home
  • News
    • Nigeria
    • Africa
    • World
  • Economy
    • Policies
    • Budgets
    • Economic Data
  • Markets
    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies

Copyright © 2023 investogist.com, All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist