The Senate has commenced a two-day public hearing on the Petroleum Industry Bill (PIB) today.
The Bill is an omnibus law meant to regulate the entire sphere of the industry and repeal all current existing oil and gas legislation.
It has lingered in the National Assembly for nearly twenty years with previous assemblies failing to pass the critical legislation.
However, Senate President Ahmed Lawan assured that the PIB will be passed in the first quarter of this year.
While assuring of a quick passage of the PIB, Senator Lawan warned that all stakeholders must play their roles to make it a reality.
According to him, the lack of passage of the PIB is linked to inadequate consultation of necessary stakeholders.
He added that the country deserves legislation that will stand the test of time.