By Our Reporter
A group under the aegis of Oil Producing Community Elders Forum, Abuja ,(OPCEF), has commended President Muhammadu Buhari and the minister of state, Petroleum, Timipre Sylva for their efforts at ensuring that the Petroleum Industry Bill now an Act, sailed through.
The commendations also include the senate president, Ahmed Lawan and members of the national assembly. It also commended the Group Managing Director of Nigeria National Petroleum Corporation (NNPC), Mele Kyari, the Chief Operating Officer, Upstream,Engr Adokye Tombomieye and Northern elders for their efforts and support in making the initiative a success.
In a statement by the chairman of the Forum, Elder Simeon Inabiebu, expressed delight that the president Buhari led administration was able to galvanize his team to record this huge success, a feat the previous administrations were not able to achieve.
He explained that the Forum which he heads in Abuja, keeps tab on developments in the oil sector and will not waste time in commending good developments and the officials that made it happen.
He further said that the northern elders also deserve commendations for their support in positive developments in the niger delta region. He singled out their support during the late president Umaru Musa Yaradua’s administration that culminated in the amnesty programme that brought about peace in the region as well as stability in the oil sector.
Elder Inabiebu, also faulted the position of a Niger Delta group over its decision to oppose and reject the three percent provision for the host communities in the newly signed Petroleum Industry Act by the president.
Inabiebu who said that his Adamikiri community in Okrika Local Government of Rivers state has thirty five (35) oil wells, counseled the group not to tow that line as the host communities can start from there which in his thinking, is better compared to the past when there was nothing accruing from the industry.
He lamented that even the 13 percent derivation to the oil producing states have not impacted on the host communities and therefore, appealed to the group which berated the minister of state, Petroleum, Chief Timipre Sylva to sheath their sword..
Inabiebu who is a player in the oil and gas sector explained that with the statutory three percent that will now go straight to the host communities, it will be easier for them to priortise their challenges and fix them as they emerge.
He further posits that the PIA is subject to review after some years which will give the region an ample time to lobby for an increase until it gets to 5 to 10 percent threshold. He insisted that the 3 percent that is in the Act now, can make a good beginning as several billions of Naira have been lost since the law had not been passed by previous administrations.
The Petroleum Industry Act was signed into law by President Muhammadu Buhari on Monday, August 16, 2021 after series of amendments and dialogues which spanned about 20 years from the time it was first introduced. The Act provides legal governance, regulatory and fiscal framework for the Nigerian Petroleum Industry as well as the development of host communities
