Signing of the Deep Offshore and Inland Basin Production Sharing Contract Amendment Act into law by President Muhammadu Buhari

Breaking….By Victor Effik.Signing of the Deep Offshore and Inland Basin Production Sharing Contract Amendment Act into law by President Muhammadu BuhariSenator Bassey Albert congratulates President Buhari and National AssemblyThe Chairman, Senate Committee on Petroleum Resources Upstream, Senator Bassey Albert Akpan (OBA) has congratulated President Muhammadu Buhari on the signing into law of the Deep Offshore and Inland Basin Production Sharing Contracts Amendment Act today, Monday, October 4,2019.Senator Albert, who sponsored the Bill in the Senate described the action of Mr. President as historic and unprecedented in the history of oil and gas sector. He also commended His Excellency, the President of the Senate, Dr. Ahmed Lawan and the entire Senate for its resilience and patriotic support towards the passage of this all important and historic amendment.The Chairman, Senate on Petroleum Resources Upstream also expressed his gratitude to His Excellency, Mr. Speaker of the House of Representatives and all members of the House for their expeditious concurrence leading to the signing of this amendment into law by Mr. President today.Senator Albert emphasized that the National Assembly through this renewed collaboration and support to Mr. President have demonstrated its readiness to pass the coming Petroleum Industry Bill (PIB) expeditiously with this passage and signing into law of the PSC Act 2019.This, according to him, will revolutionalise the country’s oil and gas sector to attract the much needed and desired foreign direct investment into the sector for the good of both our investors and country.