LAGOS, Feb 5 (Reuters) - Nigeria's legislature has begun
consulting with the president to draft "from scratch" a bill
overhauling the nation's petroleum sector and will aim to pass
it by the end of 2020, the Senate president said on Wednesday.
The government of Africa's largest oil-producing nation has
been trying to pass sprawling legislation on the sector,
governing everything from taxation to relations with the
oil-producing regions in the Delta, for more than a decade.
Senate President Ahmad Ibrahim Lawan said on Twitter that he
was confident a bill would be passed by both chambers and sent
to the president before the end of the year.
The presidency and both chambers of parliament have been in
the hands of the same party since elections last February,
potentially smoothing passage of the legislation.
"We believe that this time around, the ninth National
Assembly will break the jinx and should be able to pass the
Petroleum Industry Bill," he said.
Oil companies have said an overhaul this year is key to
enabling investment in the sector, particularly after Nigeria
passed another law increasing the government's take from deep
offshore fields.