BY CHIKA IZUORA,
The Senate has reassured Nigerians that there would be no going back on subsidy removal. It also said that efforts are ongoing to ensure the Petroleum Industry Bill (PIB) is passed on time and sent to President Muhammadu Buhari for assent
The chairman, Adhoc committee on PIB, Hon Mohammed Monguno, who gave the assurance in Lagos shortly after assessment tour of Dangote Refinery, also said the National Assembly is totally in support of deregulation of the downstream oil sector.
Monguno, who expressed delight with the level of investment by Aliko Dangote in the downstream sector, said, the passage of the bill will help attract more investment, generate jobs and advance the economy.
On his part, chairman, Senate committee, upstream, Senator Alfred Bassey Akpan, said efforts are being made to get understanding of every stakeholder to ensure quick passage of the bill into law.
On deregulation, Akpan said government will not be allowed to pay billions on subsidy when infrastructure demand is high.
Meanwhile, LEADERSHIP had earlier reported that Dangote refinery, an integrated refinery and petrochemical project under construction in the Lekki Free Zone(LFZ), will commence full production by early 2022.