By Inalegwu Shaibu

ABUJA—President of the Senate, Senator David Mark, yesterday assured Nigerians that the National Assembly will not succumb to pressures from some oil companies to pass a watered down version of the Petroleum Industry Bill, PIB.

Senator Mark, who gave the assurance in a statement by his Chief Press Secretary, Mr. Paul Mumeh, while receiving the National Executive of the South-East, South-South Professionals, SSSEP, reiterated the readiness of the National Assembly to pass a responsive bill that would change the nation’s oil industry.

The statement read: “The National Assembly is conscious in addressing some issues raised by some players in the industry, asking for a softer version of the bill, whatever decision reached would definitely be of a collective interest of Nigerians.

“The bill must find a fair balance to allow the government extract value during good times and ensure continued investment during tough times.

“Looking at the potentials, the industry still has a lot to offer to the country. There is need for all parties to continue to dialogue because if we implement the bill properly, it has the potential to transform the industry.”

Senator Mark said the interest of the lawmakers was to ensure a fair share and open doors for favourable environment for all players in the industry, stressing that the bill when passed, will bring the needed opportunities and improvement the stakeholders were yearning for.