…As only 30 Reps consider and pass the Bill
By Emman Ovuakporie
ABUJA-AT last the House of Representatives Wednesday passed the bill for an Act to provide for the Governance and Institutional framework for the Petroleum Industry and for other related matters, through third reading.
The 13 years old 191 page bill(a segment of the entire Bill) which seeks to unbundle Nigerian National Petroleum Corporation (NNPC) provides for establishment of Federal Ministry of Petroleum Incorporated; Nigerian Petroleum Regulatory Commission; Nigerian Petroleum Assets Management Company and National Petroleum Company and Petroleum Equalisation Fund.
Deputy chairman, Ad-hoc Committee on Petroleum Industry Bills, Rep Victor Nwokolo, PDP, Delta who led the debate on the report, explained that the regulatory bill will bulkanize Nigerian National Petroleum Corporation (NNPC) and create National Petroleum Commission which will take over the functions of Department of Petroleum Resources (DPR).
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