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It is a long known fact by those affected daily by the environmental impact of the IOC's (International Oil Companies) operations in the oil rich region of Nigeria that the PIB (Petroleum Industry Bill) will bring succor to them. 

The PIB however, wasn't supposed to curb only the environmental effect of the IOC's operation in the Niger Delta, it was subsequently supposed to take care of a host of issues affecting the oil industry in Nigeria. Some of this issues include: corruption, equal distribution and better management of oil resources, enhanced oil exploration and its use for the welfare of the people, pipeline vandalism, oil theft, gas flaring and poor local content.

While the PIB has spent a minimum of 15 years in the National House of Assembly (NASS), each assembly keeps leaving the bill in its shelve, while paying lip service to its review. Many believe vested interest and selfish interest have been the major obstacle for the passage of the bill, however with the present burst in the oil price internationally which has had direct impact on oil producing countries economy particularly Nigeria, it will not augur well economically in the face of present challenges if the outgoing NASS fails to pass the PIB into law. 

The passage of the PIB, has been said to be vital for the restructuring of the oil industry in Nigeria, therefore the concerns that the failure to pass the bill by the current 7th assembly might indicate that the next assembly will have to start the whole process all over again. This won't only be time consuming but resource consuming which will sum up to waste of funds of the previous assembly's reviews. 

While analysts have come to a conclusion that part of the reason the bill has been suffering set backs over the years is as a result of deliberate sabotage and protection of selfish interests from stakeholders in the industry especially the IOCs. Should the status quo however remain unchanged till there is change of government next month, many believe the incoming administration and breed of credible legislatures will summon the spirit of patriotism and make sure the bill sees the light of the day.

Ibraheem Babajide Kolawole BEng MSc