L
LequteMan
Guest
The National Assembly has revamped the Petroleum Industrial Bill, PIB, and will soon start deliberations on it.
The proposed industry wide regulatory framework was re-titled Petroleum Industry Governance Bill, PIGB. It also removed the Host Community Development Fund as envisaged in the original PIB. This is expected to reawaken ethnic and geopolitical fractures in the country given the immense support for the proposal in the country’s oil producing regions in the Niger Delta.
The Senate and the House of Representatives also, in their proposals in the new PIB, scrapped the Nigeria National Petroleum Corporation,NNPC, and replaced it with a body to be known as the National Petroleum Company, NPC.
The two chambers may have also bowed to pressure from the International Oil Companies, IOCs, by scrapping the aspect of the bill that emphasises local content, as the new bill is silent on the issue.
Vanguard
The proposed industry wide regulatory framework was re-titled Petroleum Industry Governance Bill, PIGB. It also removed the Host Community Development Fund as envisaged in the original PIB. This is expected to reawaken ethnic and geopolitical fractures in the country given the immense support for the proposal in the country’s oil producing regions in the Niger Delta.
The Senate and the House of Representatives also, in their proposals in the new PIB, scrapped the Nigeria National Petroleum Corporation,NNPC, and replaced it with a body to be known as the National Petroleum Company, NPC.
The two chambers may have also bowed to pressure from the International Oil Companies, IOCs, by scrapping the aspect of the bill that emphasises local content, as the new bill is silent on the issue.
Vanguard
