Publish What You Pay-Nigeria Thanks Nigerian Senate For Passing The Petroleum Industry Governance Bill (PIGB)

The Publish What You Pay-Nigeria (PWYP) thanks the Nigerian Senate for passing the Petroleum Industry Governance Bill (PIGB) into law.

Press Release

May 26th, 2017

Publish What You Pay-Nigeria

The Publish What You Pay-Nigeria (PWYP) thanks the Nigerian Senate for passing the Petroleum Industry Governance Bill (PIGB) into law. We commend the 8th Assembly for passing the bill after 17 years of consideration, having gone through 5 assemblies.

We equally thank them for surmounting the controversies that trailed the bill at the 7th Senate that led to the rejection of some clauses, forcing the Senate to drop the bill at the point of the passage.

At PWYP-Nigeria, we are glad that the bill seeks to introduce reforms that would engender transparency, open up the oil and gas sector to better business opportunities and profit driven.

By implication, if the bill scales through the House of Representatives and accented to by the president, it will make available, legal framework that will restructure organizations like the Nigerian National Petroleum Corporation (NNPC), Department of Petroleum Resources, (DPR) and establish National Oil Company and the National Petroleum Assets Management Commission, NPAMC.

As proposed in the bill, the National Oil Company will operate as a commercial entity and will run like a private company, while the National Petroleum Assets Management Commission will play the role of petroleum regulatory commission and will focus essentially on regulating the industry.

Having passed the first part of the bill, we encourage the Senate and the entire National Assembly to muster the same boldness used in passing the first part, to pass the remaining parts before the end of 2017.

Publish What You Pay-Nigeria will continue to support the Nigeria Senate and entire National Assembly in their effort to reposition oil and gas sector through the passage a robust Petroleum Industry Bill into law.

We are glad the Senate has joined in efforts towards achieving effective reform in the Nigerian oil and gas sector. We are equally happy that they are beginning to understand that the sector needs a major reform that will reposition it for better transparency and accountability.

This is an effort that will not only prevent corruption in the sector, but reinforce transparency and accountability in our natural resource management.

Emeka Ononamadu

National Coordinator, PWYP-Nigeria