Adeosun, Kachikwu, Emefiele, Others Shun PIB Hearing, Senate Kicks

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  • Adeosun, Kachikwu, Emefiele, Others Shun PIB Hearing, Senate Kicks

The Minister of Finance, Kemi Adeosun; Minister of State for Petroleum Resources, Ibe Kachikwu; and Governor of the Central Bank of Nigeria, Godwin Emefiele, were among the top Federal Government officials absent from the public hearing held on the Petroleum Industry Bill on Monday.

The three-day hearing, which began on Monday at the National Assembly Complex, Abuja, was organised by the Senate Committee on Petroleum (Downstream) on three bills, namely the Petroleum Industry Administration Bill, 2018; Petroleum Industry Fiscal Bill, 2018; and the Petroleum Host and Impacted Communities Bill, 2018.

The National Assembly had passed the Petroleum Industry Governance Bill, the fourth component of the PIB, in March.

President of the Senate, Bukola Saraki; and Chairman of the Senate Committee on Petroleum (Upstream), Senator Kabiru Marafa, at the opening ceremony, decried the low turnout of government officials at the event.

Saraki particularly decried the non-appearance of the Ministry of Petroleum Resources and the Nigerian National Petroleum Corporation officials.

It was observed that heads of the Ministry of Petroleum Resources, Ministry of Finance, Ministry of Niger Delta Affairs, Office of the Accountant General of the Federation, the CBN and the Independent Petroleum Marketers Association of Nigeria were absent from the event and were not represented.

The Group Managing Director of the NNPC, Maikanti Baru, who was represented by the Chief Operating Officer, Gas and Power, Saidu Mohammed, later made a presentation on behalf of the corporation.

Saraki, while declaring the event opened, explained that the public hearing was to gather opinions on the components of the PIB.

Meanwhile, the NNPC on Monday called on the Senate to consider simplifying the fiscal provisions in the Petroleum Industry Fiscal Bill in order to ensure easy implementation of the law.

Baru, said this during the Senate Joint Committee public hearing on the Petroleum Industry Fiscal Bill, Petroleum Host and Impacted Communities Development Bill and Petroleum Industry Administration Bill in Abuja.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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