Expert Picks Holes in PIGB

The Nigerian Senate
The Nigerian Senate

Expert Picks Holes in PIGB

The Petroleum Industry Governance Bill (PIGB) passed by the National Assembly in March 2018 can still be business as usual going by some provisions contained in the legislation.

The Nigerian Senate
The Nigerian Senate

This is among some of the verdicts of Prof. Akin Akindoyeni, chairman of Council Institute of Oil and Gas Research & Hydrocarbon Studies, at the 2018 Oil & Gas Public Lecture Series organized by the institute in Abuja.

The lecture, which is the first organized by the institute, drew participants from the public and private sectors.

Prof. Akindoyeni said the recently passed PIGB made provision for the decentralisation and commercialisation of the operations of the NNPC, adding, however that there were still loopholes in the bill.

“The new bill is supposed to make a difference but if you read between the lines I think it will probably be business as usual. We hope the provisions in the new bill will be enacted.”

“What we expected the bill to have done is to yield more equity to the local people. The land owners where these minerals are being exploited to improve their lives, their environment, and to make alternatives available to them where the exploitation of oil and gas has made it impossible for them to have better living standards,” Akindoyeni said.

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