The Nigerian Senate has started another round of public hearing on the Petroleum Industry Bill at the National Assembly in Abuja.
The Senate President, AHMAD LAWAN, said the current version of the PIB will ensure that Nigerians benefit complete benefits from crude oil production.
Senator LAWAN said the delay in the passage of the PIB had been a major challenge for the oil and gas industry in the Nigeria.
LAWAN said the delay had made it difficult to attract enough local and foreign investments into Nigeria at a time when many other countries are making huge benefits from their oil and gas resources.
He said Nigeria must have an oil and gas industry that benefits its people, adding that the oil and gas industry must be competitive and sustainable for investments.
The Senate President said the National Assembly would during the public hearing deal with all issues that could cause loss to the nation’s economy.