Oil & Energy
MD Seeks Quick Passage Of PIB
The National Assembly has been urged to avoid any delay and ensure the quick passage of the Petroleum Industry Bill (PIB) as it is for the best interest of all Nigerians.
A Rivers State government-owned oil exploration and production company, Treasure Energy Resources Limited’s (TERL), Managing Director, Dr. Eddie Wikina made the call in an interview with The Tide in Port Harcourt, Thursday.
According to Dr. Wikina, unbundling the Nigeria National Petroleum Company (NNPC) and transforming it into a commercial entity with more effective independent policy and regulatory units is core to the PIB and would bring about a reduction in the abuses and corruption that have plagued the oil and gas industry.
The oil and gas industry guru also noted that the PIB is expected to ensure that the interest of host communities are adequately addressed and for the best interest of all Nigerians and the Niger delta in particular, which bears the brunt of oil exploration and exploitation over some decades now.
It would be recalled that the Federal Executive Council (FEC) during its weekly meeting on Wednesday presided over by President Goodluck Jonathan, gave the approval for the new draft of the PIB.
The bill, which is an amalgamation of 16 laws in the oil and gas sector has been in the pipeline for almost 15 years.
The National Assembly is expected to receive the bill in the next fews days after few observations and inputs made during the meeting have been effected.
The draft bill seeks to unbundled the NNPC into five different companies which are National Oil Company, National Asset Management Corporation, National Frontier Exploration Services and the Host Community Fund.
Throwing more light on the bill at the end of the meeting, the Petroleum Minister, Mrs Diezani Alison-Madueke said: “The new bill looks at new areas that were quite critical and, first of all, they are the inspectorate, the regulatory agencies for the oil and gas sector to ensure that they are independent and that they can actually do the regulations.
We also looked, of course, at the unbundling of NNPC which has been very critical, created out of the old NNPC, a National Oil Company which will be independent, it will be a registered company which will have shareholding and will be ceded acreages.
As we implement the PIB, we will take over current infrastructure in the oil and gas sector, refineries, depots and certain down-stream entitles as well as production sharing contracts, she emphasized.
“I will assure you that for the next few years, we will have a continuum in that particular enterprise, which I have always said, is very critical if we are going to continue indeed to diversify our hydrocarbon base in the country.
The Petroleum Minister also said existing paratatals such as Petroleum Trust Development Fund, Petroleum Equalisation Fund, the Petroleum Training Institute, the National Content Development Management Board would continue to exist until they are no longer necessary.
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Dangote Refinery Resumes Gantry Self-Collection Sales, Tuesday
This is revealed in an email communication from the Group Commercial Operations Department of the company, and obtained by Newsmen, at the Weekend.
The company explained that while gantry access is being reinstated, the free delivery service remains operational, with marketers encouraged to continue registering their outlets for direct supply at no additional cost.
The statement said “in reference to the earlier email communication on the suspension of the PMS self-collection gantry sales, please note that we will be resuming the self-collection gantry sales on the 23rd of September, 2025”.
Dangote Petroleum Refinery also apologised to its partners for any inconvenience the suspension may have caused, while assuring stakeholders of its commitment to improving efficiency and ensuring seamless supply.
“Meanwhile, please be informed that we are aggressively delivering on the free delivery scheme, and it is still open for registration. We encourage you to register your stations and pay for the product to be delivered directly to you for free. We sincerely apologise for any inconvenience this may cause and appreciate your understanding,” it added.
It would be recalled that in September 18, 2025, Dangote refinery had suspended gantry-based self-collection of petroleum products at its depot. The move was designed to accelerate the adoption of its Free Delivery Scheme, which guarantees direct shipments of petroleum products to registered retail outlets across Nigeria.
The refinery stressed that the earlier decision was an operational adjustment aimed at streamlining efficiency in the downstream supply chain.