Senate Receives Petroleum Bill Committee Report, Passes Budget Of N329bn For FCT

The Senate on Tuesday received a joint committee report on the petroleum industry bill.

The bill was laid before the Senate by the Chairman of the Committee on Petroleum (Downstream), Senator Mohammed Sabo.

President of the Senate, Ahmed Lawan said the report will be carefully studied from now to Thursday for consideration.

President Muhammadu Buhari sent the bill to the National Assembly in September last year.

The bill aims to modernise the petroleum industry and attract more investors into the sector.

Meanwhile, the Senate on Tuesday passed a budget of N329.963bn for the Federal Capital Territory.

The budget, made up of a recurrent expenditure of N133.5Bn (78.4bn for Personnel cost and 58.7bn for overhead) and capital expenditure of 196.9Bn was passed after it scaled the third reading.

The Senate also approved the nomination of Mr Kolawole Oladipupo Alabi As Executive Commissioner, Federal Competition and Consumer Protection Commission.

The appointment was followed by the report of the Committee on Trade and Investment, submitted at the floor of the Senate on Tuesday by committee chairman, Senator Fadahunsi Adenigba (Osun-East).

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