Synopsis of the Nigerian Oil & Gas Industry Content Development (Amendment) Bill 2015

Posted On 16 June, 2015

Between June 2 and June 5, 2015, employing an unprecedented process of concurrence, the Senate fast tracked the passage of forty-six (46) bills (covering a wide range of subjects), already considered and passed by the House of Representatives.

One of the major bills passed by the 7th Assembly of the National Assembly by the above mentioned novel process, was the Nigerian Oil and Gas Industry Content Development (Amendment) Bill, referred to as the House of Representatives Bill, HB 452, (“HB 452” or the “Bill”).

HB 452 was introduced in 2013, into the House of Representatives by Hon. Asita Hounorable, then Chairman of the Local Content Committee of the House of Representatives. The said Bill had undergone a first reading in the House of Representatives at the end of February 2013 and a second reading in March 2013. Thereafter, in July 2013, the Bill was subjected to public hearings, after which stakeholders’ perspectives and contributions to the Bill were collated. The Bill then remained under consideration by the Local Content Committee of the House of Representatives, until June 2, 2015, when it underwent third reading and passage by the House of Representatives. Thereafter it was transmitted to the Senate where, together with forty-five (45) other bills it was passed without any deliberation.

The Bill is currently awaiting presidential assent.

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