Buhari to get PIGB Bill next week- Presidency

Presidency has confirmed that the long awaited Petroleum Industry Governance BIll ( PIGB) will be received by President Muhammadu Buhari, next week.

This is just as Presidency explained that President Muhamamdu Buhari is currently subjecting the new Electoral Amendment BIll to thorough review before he can append his signature.

The Senior Special Assistant to the President on National Assembly Matters ( Senate) Ita Enang confirmed this to BusinessDay at the Presidential Villa, Abuja.

“ You know how important the Bill is and the President is doing what he doing to ensure that that we have the best for a sound democratic practice and will do not want to hurryinto signing any bill into law”

“ But let me assure you that we are on the same page with our law makers and as soon as he is through, it will be signed into law” he said

Recall that the Petroleum Industry Governance Bill (PIGB) which was passed in March, 2018, has been awaiting the President’s assent.
Senior Special Assistant to the President on National Assembly Matters (Senate), Ita Enang, who had insisted that the Presidency was yet to receive the bill, a position that was later confirmed by Senate Leader, Ahmad Lawan, who explained that the inability of the Clerk to the National Assembly to transmit the bill to the President for assent was due to the legal advice received from the National Assembly Legal Services Directorate, which observed some contentious areas in the bill.

But Ita Enang however, on Wednesday confirmed to BusinessDay at the Presidential Villa that the bill will be received by the President next week, as all the contentious issues have been resolved
The confirmation has put to rest speculations on the whereabouts of the bill which is expected to transform the oil sector when signed into law.

There are indications that Nigeria May have lost well over 200 billion USD in the petroleum sector due to the inability of the Federal government to conclude work on the bill after several years.

The new law is expected to replace the existing archaic one that have aided and abetted huge revenue losses, impeded transparency, accountability , even as the old legislation has consistently frustrated new investment opportunities in the nation’s oil and gas industry.

Some of the contentious areas were in Clauses 13, 17 (1) (e), 47(1) (d), 33 (1), 63 (1), 95 (2), 102 of the bill.

For instance, the Directorate observed that while Clause 13 of the proposal establishes the Board of the Nigerian Petroleum Regulatory Commission (NPRC), there is no provision for Secretary of the board.

In its recommendation, the panel said: “The Committee accepts the request to create the office of the Secretary for the Commission who shall also serve as the (non-member) Secretary of the Board, while rejecting the request for creating a Secretary for the Board of the Commission.

“In line with this, the request for creation of Secretary for the Board in Section 13 is denied while the request for same in Section 20 of the Bill is granted”.

On the fears expressed by the Directorate that the exclusion of the National Petroleum Company from the Fiscal Responsibility Act and Public Procurement Act under Clause 102, would lead to issues of accountability and transparency, the panel justified its decision to retain the provision.

The exclusion of the operation of the Nigeria Petroleum Company from the provisions of the Fiscal Responsibility Act 2007 and the Public Procurement Act is designed to insulate the Company from the bureaucratic draw-backs to which most government-owned companies and agencies are subject.

.Businessdayonline