Gbajabiamila Hails Buhari for Assenting to PIB

* Says it will allow investments, transparency to flourish in oil, gas industry

By Udora Orizu

The Speaker of the House of Representatives, Hon. Femi Gbajabiamila, has commended President Muhammadu Buhari for assenting to the Petroleum Industry Bill (PIB), saying that Nigeria’s oil and gas industry will now receive a breath of fresh air and allow investments and transparency to flourish.

Gbajabiamila, in a statement, Monday noted that the coming into being of the law is a victory for Nigerians and a landmark achievement that ended the two-decade-long journey.

According to him, when massive investments come in as a result of the PIB, many Nigerians will gain employment.

He expressed optimism that with the law, Nigerians will also benefit from reduced fuel prices as there would be competition among the industry players.

The Speaker praised the determination of the 9th Assembly that saw the Act become a success and commended the synergy between the Executive and Legislative arms of government that won the victory for Nigerians.

He said: “As I said before, this is a landmark achievement. It has been 20 years in coming. This 9th Assembly will be recorded on the right side of history for this big score. I call on investors to take full advantage of the opportunities that the new law provided.”