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Senate President Ahmed Lawan yesterday said that the passed Deep Offshore and Inland Basin Production Sharing Contract (Amendment) Bill 2019 would make Nigeria $1.5 billion richer by 2020. He assured foreign oil firms and others operating in the country that the law was not meant to discourage investments.

Lawan spoke after the upper chamber legislative amended and sanctioned the piece of legislation, noting: “When we do legislation in the National Assembly, we are always mindful of the need to have a competitive environment just like we have done in this one, and when we work on the PIB maybe from …