The Senate said on Thursdsy that it was committed to speedy passage of the Petroleum Industry Bill (PIB) just as it was to the passage of the 2021 Appropriation Bill.
The total size of the 2021 budget estimates, which President Muhammadu Buhari presented to the joint session of the National Assembly on Thursday morning, stands at N13. 08 trillion.
Chairman, Senate Committee on Media and Publicity, Sen. Ajibola Basiru, made this known while reacting to the 2021 budget estimate presented to the National Assembly.
He also responded to a report by a foreign medium that the upper chamber was suspending work on the Petroleum Industry Bill until next year because of the budget,.
Basiru said “this is not true” because, according to him, the bill was central to revenue realisation and competitiveness in the global oil market.
He stared: “This is not true because the bill is central even to the realisation of revenue and putting our oil in competitive international market.
“On Oct. 20, the bill will enter second reading after which it will be sent to the relevant committees of the Senate, that is committees on upstream and downstream sector.
“So that as work is being done on the 2021 appropriation, work will be done at the same time on the PIB.”
On the 2021 appropriation, Basiru said, “we will make sure that copies of the presented budget are made available to senators latest by Monday.
“So that on Tuesday, the senators will take turns to discuss the principle of the budget and make their views and comments known publicly before it is sent to the relevant committee under the coordination of appropriation committee.”
Both the Execuitve and the National Assembly are committed to ensure the budget standardisation calendar of January- December. They are working, as claimed, to keep fidelity to passage of the bill and assent by President Buhari before the end of December 2020.