The minister of state for petroleum resources, Timipre Sylva has stated that the passage of the Petroleum Industry Bill (PIB) will not go beyond June 2021.
Recall that Sylva in February had assured stakeholders that the PIB will enshrine an “investor-friendly, market-led gas pricing structure.
This statement was made by the minister on Tuesday in Abuja while speaking with newsmen.
Sylva said efforts to ensure passage of the bill before the National Assembly are still on course.
“I want to tell you that PIB is fully on course and we are very happy because we have focused on that for a long time and we had many meetings with the National assembly and stakeholders.
“Today, I believe that we are all basically satisfied with where we are.
“The National Assembly has given a timeline, they actually gave April but a few things, but give or take, I still believe that the passage of the PIB will not go beyond June.
“We are hopeful that between now and June, they will pass the PIB, I don’t think we are faraway with the passage of the PIB,’’ Sylva said.
On subsidy, the minister said that the common man is worse hit but always fight the government whenever it is said it would be removed.
“The truth is that the common is not benefiting from the subsidy.”
He urged Nigerians to support government’s efforts to ensure full deregulation as the government had exhibited political will and commitment to announce deregulation for the downstream sector March 2020.