#PIBHearing : Summary of Day2 Senate Hearing on the Petroleum Industry and Governance Bill ‎‎(PIGB)

by on December 8, 2016

8th Dec. 2016.


Senator Akpan Bassey takes the opening prayers.‎
‎Chairman ‎Committee Petroleuem Upstream Sen. Alasoadura welcomes stakeholders and members of the general public present.

Senators present: Senators Tayo Alasoadura, Kabiru Marafa, Akpan Bassey,Gershom Bassey, Chukwuka Utazi.‎

Oil Producing Trade Section (OPTS) presents OPTS memorandum on the PIGB.
Clay Neff, Chairman

-‎Your recognition of the need to bring relevant industry stakeholders together at this critical time is highly appreciated ” ‪‎

-‎OPTS represents 24 independent, indigenous & international E&P companies, operating 90% of the oil & gas production -Clay Neff ‪‎

‎OPTS is supportive of industry reform, our review of the bill has identified the need for improvement in 4 areas as follows : ‪#PIBHearing

‎1″OPTS expects that the proposed Nigerian Petroleum Assets Management Company assets are matched with associated liabilities” ‪#PIBHearing

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‎2″With regard to the initial capitalization NPAM & NPC the Bill do not provide funding for these companies to fulfill financial ‎obligations from day one of incorporation” ‪
‎3.” The Bill repeals the NNPC Act 2004 without preserving the NNPC’s exemption to acreage relinquishment ” ‪#PIBHearing

‎4″With respect to JV Cash the Bill does not provide for mutual agreement of outstanding liabilities between  relevant partners” ‪#PIBHearing

‎*Major Oil Marketers Association of Nigeria (MOMAN)* ‪#PIBHearing‎

‎The issues raised by MOMAN group emanated from the following : Function & Powers of the Minister of Petroleum Resources,‎Nigeria Petroleum Regulatory Commission, Establishment of Commercial Entities and other Header recommendations . ‪#PIBHearing

‎Executive Secretary of  MOMAN Thomas Olawore concludes his presentation with commendations to National Assembly  for their efforts. ‪#PIBHearing

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-‎Godfrey Odogwu of *Association for Good Corporate*Governance in Nigeria gives a summarized presentation.   ‪#PIBHearing

-‎Representative of Centre LSD and Nigeria Natural Resources Governance Group  raises their concerns as follows: ‪#PIBHearing

‎Board Appointment, The Ministers power tamed, Independence of Regulatory Agencies and New Entities, Clear roles definition, ‎Public participation in oil sector governance and the role of labour unions and industry focused bodies in the PIGB .‎

‎A Rep. of Allied Legal Practitioner &Arbitrators gives an overview of the Bill with regard to Environmental Law Society ‪#PIBHearing

-‎”Thank you for your recommendation if there are some additions you want to make please meet the secretariat ‪@SenMarafaKabir‪#PIBHearing

– ‎PPPRA maintains stance with the presentation of ‪@NNPCgroup , Rep. of Host Communities of Oil and Gas now takes the stage. ‪#PIBHearing

‎Oil Production happens in NigerDelta but major Headquarters are in Lagos flow of information should not be segmented‎. “The power of the Petroleum minister is equally enormous – Eng. Obuba ‪
Sen. Akpan Bassey reminds him to stay conscious of time.
‎His counter part  also raised the need for a National Body of host Com. & Business Structure of the host Communities. ‪#PIBHearing

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‎Sen. Akpan Bassey moves for the ‪#PIBHearing to continue tomorrow having exhausted the presentation for today. ‪@gershombassey  seconds.

This brings day 2 of the ‪#PIBHearing to an end, to continue tomorrow, Friday 9th December 2016 at 11am. ‪#PIBHearing

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