OrderPaperToday – President of the Senate, Bukola Saraki, has said that the Petroleum Industry Bill (PIB) would be laid afresh before the two chambers of the National Assembly next week.

Saraki made this known while delivering the keynote address at the maiden edition of the National Assembly Business Environment Roundtable (NASSBER) on Monday in Abuja.

The PIB upon which sustainable and holistic reforms of the oil and gas industry in Nigeria has been hinged by successive administrations, has consistently suffered stillbirth in three previous assemblies.

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But speaking on the matter, Saraki said the 8th National Assembly would not shy away from making laws that would contribute to the growth of the economy, given current challenges.

He identified the PIB as one of such laws which the legislature will expedite action on once received.

The senate president who declared the roundtable open told his audience part of the activities leading to the inaugural NASSBER was a Business Environment Legislative review conducted and which final peer-review report was submitted to the National Assembly on Feb. 29, 2016.

He said: “The report identified institutional, regulatory and legal instruments currently constraining and impeding business activity in Nigeria.

“The findings and recommendations of the Business Environment Legislative Review Report provide a framework for the assessment and improvement of legislation and policy affecting businesses in Nigeria.”

Saraki said the aim of NASSBER was to ensure that the private sector played an active and effective role in the formulation of public policy, adding that the platform would ensure collaboration among the private sector, legislature and executive to promote relevant and sound public policy.

“The National Assembly Business Environment Roundtable hopes to achieve a number of specific objectives, including, legislative reform as it pertains to improving the business environment in Nigeria,” he said.

“We have to strengthen the foundation of Nigeria’s economy by ensuring smart and effective regulation and embark on increasing competitiveness and private sector investment,’’ he added.



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