SAN FRANCISCO, May 25, (THEWILL) – The Nigerian Senate on Thursday passed the Petroleum Industry Governance Bill, PIGB, after about 17 years of considering the Petroleum Industry Bill, PIB.
During the day’s plenary, the bill was read the third time before the chamber.
While considering clauses of the bill, the lawmakers disagreed on who would have the responsibility to guard against environmental degradation.
Some senators had wanted the ministry of petroleum resources to be responsible for taking care of oil spills and other forms of environmental degradation.
The senator representing Imo west, Hope Uzodinma, argued that the ministry of environment should be allowed to take care environmental conditions to ensure that the standard is maintained.
He said this would be in line with the new world order in cognisance to climate change.
Also speaking, the senator representing Rivers south-east, Magnus Abe, said the matter should not be left in the hands of the oil industry because they were after profits.
According to him, “I think our recent experiences in this country, we all know the situation of the Niger Delta as a result of the lack of regulation in the oil industry.
“If we leave this matter in the hands of the oil industry, we will end up in a situation where we will spend our time fighting over issues that we should not be concerned with.
“I want to align myself with those who have suggested that environmental issue should take precedence over the bottom line so our people are safe.”
The senators however agreed that the proposed Nigerian Petroleum Regulatory Commission should work with the ministry of environment to protect the oil producing communities.
The senators also agreed that the chairman, Nigerian Petroleum Regulatory Commission should be appointed by the president and not the minister.
Commenting on the bill, Senate President, Bukola Saraki said the lawmakers had broken the jinx of passing the bill, adding that it would ensure transparency and accountability and create and an enabling environment for the petroleum sector.
He said, “This is a Bill #PIGB that has been here for many years, we made a commitment and it’s being fulfilled.
“This Bill is not only for Nigerians but for our investors. We are proud of what has been done.”
Chairman, Senate Committee on Petroleum, Upstream, Senator Tayo Alasoadura, had on Saturday, stated that the Bill, if passed, would benefit all Nigerians.
According to him, the Bill would help to create more jobs for Nigerians, and foster an environment conducive for business for petroleum operations when made law.
The lawmaker had said: “Government revenue from oil industry will increase. This means more funds in the hands of government to engage in developmental activities.
“The downstream sector will become fully deregulated. In other words, subsidy will be totally removed.
“This means more jobs for Nigerian local contractors, especially those from the oil producing regions.”
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