Nigeria’s Senate Plans to Pass Delayed Oil Industry Reform Bill Next Week
Nigeria’s Senate plans to pass a bill to regulate the oil industry of Africa’s top producer next week, after addressing concerns about taxes and royalties raised by international energy companies, Lee Maeba, chairman of the Joint Senate Committee on Petroleum, said in an interview today in Abuja, the capital.
The lawmakers have decided to make a legislation that won’t “scare the multinationals,” said Maeba. “They’re the people producing the oil, hence there should be a balance between the government’s take and their take.”
The Senate will start final deliberations on the bill on May 17, subsequently passing it, he said.
To contact the reporter on this story: Elisha Bala-Gbogbo in Abuja at ebalagbogbo@bloomberg.net
To contact the editor responsible for this story: Dulue Mbachu at dmbachu@bloomberg.net
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