AN NGO, Centre for Transparency Advocacy (CTA) has called for the quick passage of the Petroleum Industry Bill (PIB) amid threat of COVID-19 to the oil sector
Executive Director of the Group Ms Faith Nwadishi made the call in a statement on Thursday in Abuja.
She said that the passage of the PIB should be done without further delay as this had been long overdue for 20 years.
According to her, with the challenges posed by the outbreak of COVID-19 in Nigeria and across the world, Nigeria’s economy would bounce back if the bill was passed immediately.
She said that the Executive should urgently send the bill to the National Assembly for deliberation and passage stating that the oil and gas sector needed urgent reforms.
According to her, the non -passage of the bill has stalled the way toward progress in the oil and gas industry in Nigeria.
Nwadishi said that since the Federal Government had called for the removal of oil subsidy, there should be a framework that supported accountability and transparent utilisation of the proceeds from the subsidy removal to benefit the masses.
“Government should establish an industrial base for the utilisation of the petroleum sector and create opportunities for increased production in the sector.
“There is the need to have a comprehensive licensing, fiscal and legal regime that will encourage the production and utilisation of the gas sector.”
She recommended that state governors should take the reforms in the sector especially the PIB as matters for urgent attention.
“We support the domestication and indigenisation of the petroleum sector to create a domestic-supported industry,” she said. (NAN)
– May 21, 2020 @ 13:45 GMT |