By Rotimi Adewuyi

OrderPaperToday – President of the Senate, Ahmad Lawan has urged President Muhammadu Buhari to transmit a bill to the National Assembly aimed at amending the Petroleum Industry Act (PIA).

Lawan made the call moments before referring the President’s request for an amendment of the 2022 Appropriation Act to the Committee on Appropriation after the bill scaled second reading.

--Sponsored Content --

According to him, a request seeking an amendment to the PIA would enable the National Assembly to extend the subsidy regime in the Petroleum Industry Act to be in line with the President’s request for an additional N2.557 trillion naira.

An amount aimed at covering fuel subsidy in the 2022 budget from July this year. This is especially as the present subsidy regime elapses in June 2022, by the provisions of the Petroleum Industry Act (PIA).

READ ALSO: Time not right for fuel subsidy removal – Lawan 

The Senate President, therefore, mandated the relevant Oil and Gas Committees of the National Assembly to engage the Executive on a bill to amend the PIA to align with the President’s request.

“The Act itself says something else, that there will be no subsidy. If we approve for subsidy in the 2022 Appropriation Act Amendment Bill to us, then it means we have to extend the period in which government will provide subsidy up to the point this subsidy we approve (N2.557 trillion) would last.

So, there is need to come up with the request for amendment.

“Our Gas and Oil related Committees should work with the Executive side of government to get that sorted as soon as possible, so that what we do is appropriate, and is lawful and legal.”

Sponsored

LEAVE A REPLY

Please enter your comment!
Please enter your name here