Sen. Babajide Omowarare, Senior Special Assistant to the President on National Assembly Matters (Senate), says passage of the Petroleum Industry Bill (PIB) by the Senate on Thursday is breaking of an age-long Jinx.
Omoworare in a statement in Abuja on Thursday, congratulated President Muhammadu Buhari, the Senate President, Ahmad Lawan and the Speaker House Representatives, Femi Gbajabiamila on the passage of the PIB by the National Assembly.
He noted that efforts by the Executive and Legislature in Nigeria to put in place contemporary legislative and legal framework in the oil and gas sector had proved abortive since the year 2000.
According to him, the non-amendment of the extant framework being the Petroleum Act of 1967, has affected inflow of Foreign Direct Investment as well as growth in Local Content.
“Breaking this jinx and achieving this feat is a testament that the executive and the legislature can really work together and truly engage each other, without compromising party position and individual perspective in the most positive manner.
“I will like to thank the entire leadership and members of the Senate and House of Representatives, as well as the Minister of State for Petroleum, Timipre Sylva.
“Also, the Group Managing Director of Nigeria National Petroleum Corporation, Mele Kyari, for their focused and tenacious attitude to achieving this milestone,” he said.