Fresh Move to ‎Resuscitate PIB Begins

Tobi Soniyi in Abuja

The House of Representatives and the Nigerian Law Reform Commission are initiating ‎a fresh move to resuscitate the debate on the botched Petroleum Industry Bill.

The debate will draw lessons from the failure of the attempts by both the administration of President Goodluck Jonathan and the 7th National Assembly to ensure the successful passage of the Petroleum Industry Bill.

Addressing journalists in Abuja on Monday, Technical Assistant on Petroleum Industry Reform to the House of Representatives, Mr. Oracle Nwala, said the lower legislative chamber would organise a national summit on petroleum industry reform to ensure “the passage of an appropriate legal framework for the management and development of the petroleum industry of Nigeria”.

He said the event which is to hold at the International Conference Centre between June 12 and 15 was part of the moves by the House of Reps to revisit the process of petroleum industry reform rather than lament over the failure of the PIB.

He said work had already commenced on the new PIB.

He said, “The House of Representatives, rather than whine and whimper, has decided to be proactive, to revisit the process of petroleum industry reform, and to work towards the successful enactment of laws that will regulate the Nigerian petroleum industry, in accordance with the rule of law, good governance, and due process; for the sustainable development of Nigerians and the total advancement of the Federal Republic of Nigeria.

“It is the conviction of the House of Representatives and its leadership that the reform of the petroleum industry is a vital necessity, if Nigeria is to realise its God-given potential. For a country that depends on revenues from petroleum industry, there is no alternative to reform.

“In keeping with the commitment of the House of Representatives to pass a robust legislation that will cater to the topical issues in the Nigerian Petroleum industry with a view to promoting global best practice, the House of Representatives has initiated work on a new Petroleum Industry Bill.”

He expressed regret that the nation did not take full advantage of the enormous petroleum Nigeria was blessed with.

He said Nigeria’s oil industry comprising both the upstream and downstream sectors were currently operating under a practically no-existent legal framework.

Further details later