The Speaker of the House of Representatives, Aminu Tambuwal, said on Tuesday the House Committee on the Petroleum Industry Bill would submit its report on July 11. Tambuwal said at a business lecture organised by the Island Club in Lagos that the committee had concluded hearings on the bill in all the regions except Abuja. […]
The Federal Government has pre-qualified about 20 international and indigenous petroleum products suppliers to import petrol into the country. This is to ensure that only credible and professional suppliers engage in fuel import in the country. The Executive Secretary, Petroleum Products Pricing Regulatory Agency, Mr. Reginald Stanley, who said this during an interactive session with […]
The Senate President, David Mark, said on Wednesday that he will readily endorse a penalty of death for perpetrators of oil theft, commonly called bunkering, as four senate committees opened hearings on the Petroleum Industry Bill driving to overhaul the oil sector. Mr. Mark’s comments came as senators, separately, held a six-hour closed door meeting […]
In this piece, Oluwole Josiah X-rays the just-concluded Senate debate on the Petroleum Industry Bill and the need for it to become law. The Petroleum Industry Bill is not new to the National Assembly. It first made its debut during the Sixth National Assembly. It was then greeted with mixed feelings while allegations were rife […]
International Oil Companies, IOCs, on Wednesday said the continued delay in passing the Petroleum Industry Bill, PIB, into law is creating uncertainties. The uncertainties delay the take-off of fresh projects worth several billion of dollars that would grow industry capacity and reserves. The Country Chair of Shell Companies in Nigeria, SCiN, Mutiu Sunmonu, said its […]
Southern Senators, yesterday, met behind closed doors to strategise and come up with unified positions on the Petroleum Industry Bill (PIB) and key areas of the Constitution Review Public Hearings undertaken by Senators in the six geo-political zones of the country. Tuesday’s meeting, LEADERSHIP reported, was not unconnected with recent reports of northern opposition to […]
The Petroleum Industry Bill (PIB) as is currently constituted, is too complex and will need to be broken into bits, for it to stand a chance of being passed early by the National Assembly, stakeholders have said. Non passage of the bill has held up further investment in oil exploration in Africa’s second largest economy […]
ABUJA—The Federal Government said Tuesday, it would soon make public its feelings on the Mallam Nuhu Ribadu-led report on Petroleum Revenue Special Task Force, PRSTF, popularly known as the Ribadu report. The Federal Government’s assurance emerged just as anxiety became rife that the administration had jettisoned the controversial report apparently because of its damning expose […]
Having examined other extant regulations in the United Kingdom (UK) in the first part of this article which showed clearly that it is a serious error to conclude that the guiding UK law expressly permit the sort of unfettered powers assigned the Nigerian Petroleum Minister in the PIB (Petroleum Industry Bill), it is good to […]
On January 17, 2013, Thisday Newspaper published an opinion piece credited to one Ejiofor Alike titled “PIB: Powers of Minister Similar to UK, Malaysian, Norwegian Laws” where the author attempted to educate his readers and justify the contentious powers assigned to the Minister of Petroleum resources. Ejiofor said “Contrary to the impression that the Petroleum […]