The 2020 Petroleum Industry Bill has scaled the first reading on the floor of the Senate during plenary on Wednesday.

The much-awaited bill was presented by the Leader of the Senate, Yahaya Abdullahi, and was read by the President of the Senate, Ahmad Lawan.

Senate President Ahmad Lawan directed Acting Clerk of the Senate, Dauda Ibrahim El-Ladan, to ensure a copy of the Bill is given to each Senator in preparation for the second reading of the Bill next week.

Court To Hear Suit Challenging Lagos Ban of Motorcycles, Tricycles On Dec 15

Lawan and Speaker of the House of Representatives, Femi Gbajabiamila, at the weekend pledged to break the jinx that had militated against passage of the Bill after several attempts by the National Assembly.

While the Senate President said the lawmakers needed to understand the Bill to ease its passage, the Speaker said the National Assembly would not sacrifice thoroughness on the altar of speed.

Minister of State for Petroleum, Timipre Sylva, said that contrary to reports, the new PIB seeks to commercialise the Nigerian National Petroleum Corporation (NNPC) rather than abolish it.