To rectify NNPC flaws PIB must be passed – PENGASSAN

By Post Nigeria August 11, 2015 17:44

To rectify NNPC flaws PIB must be passed – PENGASSAN

The Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN has urged President Muhammadu Buhari to channel his energy into ensuring that the Petroleum Industry Bill, PIB, is passed into law.

The President of the association, Francis Johnson stated this while speaking at the Addax Petroleum Branch of PENGASSAN Triennial Delegates’ Conference in Abeokuta on Tuesday and called on Buhari to stop the political interference in the operations and activities of the state-owned Nigerian National Petroleum Corporation, NNPC.

Buhari on August 4, 2015 appointed Emmanuel Ibe Kachikwu, the Executive Vice Chairman of ExxonMobil as the Group Managing Director, GMD, of Nigeria National Petroleum Co-operation, NNPC, with a clear cut mandate to clear the oil sector of alleged rot.

Buhari aim was to reform and reposition the cooperation which he described as the cesspool of corruption.

See: Buhari picks Kachikwu as NNPC head, rubbishes SUN tribalistic report

Dauda Garuba of the Natural Resource Governance Institute last month told journalists that a lot of hope was placed on the passage of the PIB, based on that the country can no longer continue to move in circle.

According to him, the last minute passage of the Bill by the 7th House of Representatives alone was very disappointing.

    “We all know that one of the chambers of the National Assembly will not get the PIB passed into law except both chambers approve of it.

    “And that is where the critical issue comes up as what was the whole effort about by the House of Representatives if eventually the Senate was not going to pass it and was going to be harmonized to become a law.

See: UPDATE: House defies odds, passes PIB, 9 other bills

The PENGASSAN President, while speaking maintained that it was only the passage of the PIB that would enable the NNPC to compete favorably among its peers in the world, such as the Saudi Aramco of Saudi Arabia, Petronas of Malaysia and Petrobras of Brazil.

He added that there was not enough transparency in the manner the past governments drove the process of the passage.

    “Some of the challenges confronting the industry would have been resolved if the PIB was passed as the provisions of the bill cover some of the issues raised by the protagonists of the reforms. Now, nobody is mentioning the bill again.

    “The uncertainty of the bill is not comfortable to investors and stakeholders in the industry. The government should let us know what they intend to do about the bill and the process it will use to fast-track its passage into law.

    “We are very optimistic that the 8th National Assembly will ensure transparency by making public the content of the bill and give topmost priority to its passage in view of its importance to the overall stability and growth of the oil and gas industry from which the government’s revenue for the sustenance of the economy is derived.”

See: Saraki clarifies National Assembly allowance figures, pledges to prioritise PIB