The much-awaited Petroleum Industry Bill, PIB, may be passed by the national assembly in July this year.

Senate President Bukola Saraki disclosed this to Reuters.

The PIB aims to cure the many ills bedeviling the oil and gas sector in Nigeria and improve transparency, attract investors and stimulate growth.

But it has been debated for more than a decade and was broken into sections to help it pass into law.

The PIB was discussed for some 17 years before the governance bill was passed by both houses of parliament in January this year.

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That unprecedented move, following the decision to break up the unwieldy PIB into smaller bills, raised hopes that the other pieces of legislation could be passed soon after.

Saraki said in an interview that the aim was to ensure all three remaining parts of the legislation were passed by the National Assembly before it went on holiday in July.

“We go on the summer break in July. If we don’t pass it by July, by the time we come back in September it is all going to be elections,” said Saraki, referring to presidential and legislative polls scheduled to take place early next year. He said the break would begin in the third week of July.''

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