Senate President says PIB will increase Nigeria’s oil revenue

“By the grace of God when we resume, we will start work on the Petroleum Industry Bill (PIB); that is going to be one legislation that not only Nigeria but the entire world is waiting for because that will change our economy.

“Money will start flowing so we want you to be in that journey with us so that you too, when the history of PIB passage and assent will be written, your names will be reflected.

“We promised Nigerians that we are going to achieve that by the grace of God in the year 2021,” he said.

“There are people both within and outside the country who will work against it but it is going to take the strength of our patriotism to pass it,” he said.

“We close by 2a.m., 3a.m., just working to amend that act, people didn’t want it to happen because it stopped what has been happening for 20 years.

“In a week, they thought it was a joke. In a week we finished the amendment because the house was on recess, the day they returned, they concurred” he said.

“But from last year, after the amendment, it is now 2 billion dollars.

“That is what we intend to do with the PIB, we will pass the PIB that will ensure that businesses here get a very competitive environment, that people are able to make profit and stay and even invest more.”