The presentation given by the Senate Committees on Petroleum Resources (Upstream), Downstream Petroleum Sector and Gas Resources may be found below.
PIGB 2017 – Objectives
The PIGB 2017 passed by the Senate on May 25, 2017, has the following objectives:
- create efficient and effective governing institutions with clear and separate roles for the petroleum industry;
- establish a framework for the creation of commercially oriented and profit driven petroleum entities that ensure value addition and internationalization of the petroleum industry;
- promote transparency and accountability in the administration of petroleum resources of Nigeria; and
- foster a conducive business environment for petroleum industry operations.
Breaking News – History is made as the Nigerian Senate passes the Petroleum Industry Governance Bill
The Petroleum Industry Governance Bill was passed at its third reading at the Nigerian Senate today (May 25th, 2017). In the long history of pursuing Petroleum Industry legislative reform in Nigeria, this is the first time that a bill will be passed at the Nigerian Senate.
We shall update you on the changes made to the Bill and the next steps.
Petroleum Industry Fiscal Bill
The Senate announced on its official twitter feed – @ngrsenate, that the Petroleum Industry Fiscal Bill (PIFB) passed the first hearing. The Bill is the third in the series of petroleum industry-related bills to have commenced the legislative process in the Senate. The first was the Petroleum Industry Governance Bill (PIGB), which we reported as being scheduled for a third hearing in May 2017, whilst the Host Community Bill went through the first hearing in December 2016. The Chairman of the Senate Committee on Petroleum Resources (Upstream), Senator Tayo Alasoadura introduced the PIFB.
Senate to pass PIGB in May
The Chairman of the Senate Committee on Petroleum Resources (Upstream), Senator Tayo Alasoadura, announced yesterday, that the Petroleum Industry Governance Bill is slated for a third hearing at the Senate on May 16th and 17th, 2017. This is the first time that the PIB in any of its forms would get to this stage in the Senate.
Dr. Adefulu speaks to CNBC Africa on the PIGB
Petroleumindustrybill.com’s Managing Editor, Dr. Adeoye Adefulu was interviewed on CNBC Africa’s Open Exchange Africa programme on the state of the Petroleum Industry Governance Bill on Friday, April 7, 2017.
PIGB laid before the Senate for Debate
The Joint Committee tasked with reviewing the Petroleum Industry Governance Bill (PIGB) in the Senate has laid its report before the house. This signifies the completion of the Committee’s review process. The next step is the clause by clause debate of the Bill at its third hearing, currently scheduled for the 25th of April, 2017. Continue reading “PIGB laid before the Senate for Debate”
PIGB: FG Backs Single Petroleum Sector Regulator, Wants Minister as Chair
We attended the public hearing of the Senate on the Petroleum Industry Governance Bill (PIGB), which was held over three days in Abuja last week. We shall share an update on the proceedings in a later post. An important highlight is that the FG & the Senate now appear aligned on the institutional reform proposals in the PIGB. Continue reading “PIGB: FG Backs Single Petroleum Sector Regulator, Wants Minister as Chair”
NOTICE OF PUBLIC HEARING/ CALL FOR MEMORANDA
The Senate Joint Committee on the Petroleum Industry Governance Bill yesterday published a Public Notice in the Punch Newspaper, inviting industry stakeholders and the general public to a hearing on the Bill scheduled to hold on December 7, 2016 at Conference Room 0.22 of the Senate Building, National Assembly Complex, Abuja for 10.00pm daily. The announcement also invites the submission of Memoranda on the Bill which must be submitted not later than December 2, 2016.
PIB passes second reading at Senate
News reaching us from the Punch Newspaper confirms that the Petroleum Industry Governance Bill (PIGB), which is an unbundled version of the PIB, described by the Chairman, Senate Committee on Petroleum Resources (Upstream), Senator Tayo Alasoadura, as proposing “a slim, focused yet robust framework” for effective and institutional governance of the Nigerian petroleum industry, passed second reading in the floor of the Senate on Tuesday, November 2, 2016.
This speedy action on the Bill seems to confirm our earlier report of the Senate’s plan to ensure that this version of the PIB is passed before the end of the legislative sitting for 2016.
An interesting development however is the recently launched 7 Big Wins of the Federal Government, which is the government’s Roadmap of short and medium term priorities to grow the Nigerian oil and gas industry. One of the key areas of focus of the Roadmap is oil and gas Policy & Regulation which proposes two industry reform bills – a Petroleum Industry Reform Bill (PIRB) and a Petroleum Fiscal Reform Bill (PFRB). The PIRB is expected to address all governance and operational industry reform issues much like the PIGB and the Roadmap outlines an objective of concluding and passing the PIRB & the PFRB either by the end of December 2016 or by the end of the first quarter of 2017 (a seeming contradiction in the Roadmap).
The question is, is the PIGB and the PIRB one and the same? This is very doubtful. If these two Bills are two different Bills as we suspect, then there is a likelihood of the resuscitation of the supremacy battle between the National Assembly and the Presidency earlier reported on, which we fear may end up stalling the passage of the Bill if not properly managed.