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Passage Of PIGB Excites Rivers Stakeholders
The passage of the first lap of the much-awaited Petroleum Industry Governance Bill (PIGB), last Thursday by the Senate has been described as an exciting development by some stakeholders who spoke on the issue, yesterday, in Port Harcourt.
Youth of oil-rich Niger Delta region said the passage has proved that the present Senate, unlike the previous ones, consider the interest of Nigerians.
Speaking under the umbrella of the Niger Delta Youth Coalition (NDYC), the youth said, “though the action of the Upper Chambers has been long awaited”, but added that this will speed up chains of positive actions by players in the petroleum industry.
National Co-ordinator, NDYC, Prince Emmanuel Ogba, commended the Dr Bukola Saraki-led Senate for its action, and appealed to the House of Representatives to compliment the Senate by also passing the bill, just as he urged the National Assembly to speed up the passage of the next aspects of the bill.
Also speaking, the Executive Director, Foundation for the Conservation of the Earth (FOCONE), Patrick Chiekwe, said the passage of the bill would give legal impetus to issues of environmental degradation caused by oil spill.
Chiekwe lauded the Senate, and noted that the delay in the passage of the bill had negatively affected the socio-economic life of the people in oil producing communities.
The executive director said oil producing communities which had suffered so much as a result of pollution and marginalization in the petroleum sector were eager to see the passage of other aspects of the bill, particularly the lap that would address the issue of 10 per cent equity share for oil producing communities.
Speaking in similar manner, a public affairs analyst, Mr. Bon Obilor said, “at least, we can see some positive changes. We can see progress and signs that those in the National Assembly are feeling the pulse of the people”.
He said the delay in the passage of the bill has held back so much investments, which investors had moved to other African nations.
“Petroleum is the life-wire of the nation; so, one had expected that such a legal framework would have been treated as a mark of urgency and priority. But unfortunately, it had to be delayed for over a decade because of misguided interest”, he said, and commended the Bukola-led Senate for making a change.
Meanwhile, the Petroleum Industry Governance Bill (PIGB), was finally passed last Thursday, during plenary by the Senate, 12 years after its introduction as the ‘Petroleum Industry Bill (PIB).
The passage followed the final consideration and adoption of the report of the Senate’s Joint Committee on Petroleum, Upstream, Downstream and Gas
The bill, which was introduced by Sen. Tayo Alasoadura (Ondo Central) in the Eight Senate, to establish a legal framework for the creation of a more efficient, transparent, competitive and internationalized petroleum industry.
The PIGB also seeks to create a conducive business environment for the operations of the petroleum industry and overhaul the Nigerian National Petroleum Corporation (NNPC).
The passage of the bill remains a landmark achievement of the Eight Senate as the lawmakers broke the jinx that many believed had beset the National Assembly’s efforts to reform the oil industry.
The bill has been a very controversial one with allegations of the resolve of some stakeholders who felt the bill, when signed into law, will negatively affect their corrupt businesses, fighting headlong against its passage.
The Seventh Senate under the leadership of Senator David Mark, almost recorded successful passage of the bill, but controversies over multiple or different versions of the bill marred the progress and scuttled ascent of former president, Dr Goodluck Jonathan, to the bill.
According to industry analysts, Nigeria has, over the past eight years, lost over $120 billion in withheld or diverted investment due to the inability to pass the PIGB.
President of the Senate, Dr. Abubakar Bukola Saraki, who presided over the plenary, congratulated the senators for resisting all forces that worked against the bill for years, and finally passed it.
His words: “Senate’s action today culminates some 12 long years of legislative attempts to reform the petroleum sector. Now, we are a step closer to bringing better governance and transparency to Nigeria’s most important economic sector.
“Now, there is no question that the political will exists to reform the petroleum industry. The passage of the PIGB will go a long way to restore investor confidence in a sector that has great potential to be more efficient and competitive on the world petroleum market,” he said.
Saraki noted that when the PIGB is finally enforced, Nigerians would enjoy more impact of the oil resources.
“The importance and impact of this bill can never be overstated. Nigerians are ever closer to reaping the full benefits of our nation’s natural wealth.
“This means there will be greater revenue for government to invest in economic diversification, job creation, hospitals, schools and roads,” he said
It would be recalled that the House of Representatives recently completed the second reading of the PIGB, with its leadership indicating their intent to move the bill through the legislative process as efficiently as they can.
Chris Oluoh & Nneka Amaechi-Nnadi, Abuja
President Bola Tinubu has expressed confidence that the country would win the fight against insecurity.
The President gave the assurance at the Argungu International Fishing Festival in Argungu town, Kebbi State, on Saturday.
He noted that the relative peace currently being enjoyed in Kebbi and neighbouring states was the result of sustained investments in security intelligence, coordination among security agencies, and community engagement.
Tinubu assured farmers and fishermen of sustained federal support to guarantee food security and safety across the country.
“The peace we are witnessing today is not accidental. It is the outcome of deliberate and sustained efforts. I assure you that the fight against banditry, insurgency, and insecurity will be won.
“Our farmers, fishermen, traders, and families will go about their lawful activities without fear,” he assured.
The President commended the organisers of the festival for sustaining the cultural event for decades, noting that it had endured for 83 years despite social and security challenges.
Describing the Argungu festival as a powerful symbol of unity, resilience, and peaceful coexistence, Tinubu stated that it reflects the richness of the country’s culture and the opportunities to harness its natural and human resources for national growth.
He said, “Today, this festival stands as a powerful symbol of unity, resilience, and peaceful coexistence among our people.
“It reflects the richness of our culture, the strength of our traditions, and the opportunities inherent in harnessing our natural and human resources for national development.”
The President was received by a large crowd of residents, traditional rulers, fishermen, tourists, and government officials from across the country.
The President reaffirmed his administration’s commitment to youth and women empowerment, irrigation development, rural electrification, and agricultural productivity.
Earlier, the Kebbi State Governor, Nasir Idris, said his administration was determined to elevate the Argungu Fishing Festival to full international standards while pursuing aggressive development across critical sectors of the state.
The United States Embassy in Abuja and the Consulate General in Lagos will be closed today, in observance of Presidents’ Day.
The mission made this known in a notice shared on its official X page, yesterday.
“The U.S. Embassy in Abuja and the Consulate General in Lagos will be closed on Monday, February 16, 2026, in observance of Presidents’ Day,” the post read.
According to the embassy, Presidents’ Day was originally established to honour the birthday of the former US President, George Washington, but has evolved into a day to celebrate all U.S. presidents and their leadership in shaping the country’s history.
The embassy noted that the holiday also recognises the influence of U.S. presidents on global affairs.
In a related message, the mission highlighted that Washington created the first “Badge of Military Merit,” which later became the Purple Heart. The medal still bears Washington’s image today.
Presidents’ Day is observed on the third Monday of February annually in the United States as a federal holiday.
News
Guterres Backs Nigeria’s Bid For UN Security Council Seat …Hails Tinubu’s Reforms, Regional Security Role
United Nations Secretary-General, António Guterres, has charged Nigeria with spearheading Africa’s quest for a restructured global order, describing the country as uniquely positioned to lead the continent toward superpower status.
Guterres, who backed Nigeria’s bid for the world body’s security council seat, also praised the economic reforms of the President Bola Tinubu-led administration as well as Nigeria’s leadership in stabilising the Sahel and ECOWAS regions, despite facing its own security challenges.
The UN scribe made the remarks last Friday night during a high-level bilateral meeting with Vice President Kashim Shettima on the sidelines of the 39th African Union (AU) Summit in Addis Ababa, Ethiopia.
Speaking during the meeting, Guterres said Nigeria’s large population, sustained democratic governance, vast natural and human resources, and longstanding commitment to multilateralism placed it in a unique position to lead Africa in the evolving global order.
“Given Nigeria’s demographic strength, democratic continuity and deep resource base, the country stands a real chance of leading Africa to becoming the next superpower in the evolving global architecture,” he said.
The UN Secretary-General and the vice president discussed key developments in Nigeria and the country’s expanding leadership role in promoting regional stability across West Africa and the Sahel.
Guterres commended the remarkable and outstanding reforms of the administration of President Tinubu, noting that Nigeria’s bold economic restructuring and security commitments have strengthened its continental standing.
The meeting focused on strengthening Nigeria–UN collaboration to advance global economic growth, peace and security, sustainable development, and a coordinated humanitarian response across Africa.
In his remarks, Shettima thanked the UN Secretary-General for his leadership in advancing global peace, noting that Africa has benefited immensely from his tenure, even as the United Nations undergoes internal restructuring.
“We remain committed to multilateralism and to deepening our partnerships with the United Nations and other global institutions,” the vice president said.
Shettima also reiterated Nigeria’s longstanding call for comprehensive reform of the United Nations system to reflect evolving global realities.
He emphasised that Africa must have stronger representation in global decision-making structures and declared that Nigeria deserves a permanent seat on the United Nations Security Council.
Both leaders pledged to deepen cooperation, with Guterres reaffirming the UN’s support for Nigeria’s reform agenda and its growing leadership role in advancing peace, security, and development across Africa.