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NAEE President Wants Buhari To Sign PIGB
The President, Nigerian Association for Energy Economics (NAEE), Prof. Wumi Iledare, last Saturday urged President Muhammadu Buhari to sign the Petroleum Industry Governance Bill (PIGB) before 2019 elections campaigns begin.
Iledare made the call at a pre-conference news briefing in Abuja, ahead of the 11th NAEE/IAEE International Conference beginning today.
The National Assembly passed the bill on March 28 following the unanimous adoption of a report on the Bill presented by Chairman, Senate Committee on Petroleum (Upstream), Sen. Tayo Alasoadura.
In passing the bill, the lawmakers approved in it, five per cent levy on petroleum products sold in the country.
Iledare urged Buhari to assent to the bill quickly as it still had 12 months to 24 months transition period after the president’s assent “to cushion any event of macro-economic shock”.
“I am not saying he shouldn’t evaluate. He should not assent to it without reviewing it further and that is why we have separation of powers.
“I think he has sent the bill to some critical sectors in the executive arm to look at it to get informed. If I am to advise the executive, I will say look ahead, not the now.
“If I were the president, I will sign it before the election campaigns begin because it will give him something to say look, I have done it after 18 years.
“The president needs an energy council, a competent body of energy professionals to look at the energy supply mix for Nigeria, just like you have in some other places.
“The reason why you see the shale gas developments in the U.S. is because of the Potential Natural Gas Committee that has existed for many years.
“I said this when Buhari came to power, that there is an energy council that is moribund and should be revamped,’’ Iledare said.
He said the Nigeria National Petroleum Corporation (NNPC) was experiencing under-recovery because it could not recover what it pays for in dollars using naira in an unstable market.
“We warned the government then, at that particular time there was an opportunity not to put any price because the price on the street was already N200.
“Unfortunately, you cannot recover what you pay for in dollars using naira, when the exchange rate is unstable and that is what we have.
“I think also that if you look at the industry, we are not in any way operating a deregulated downstream, what we have is what I will call a price ceiling that has been misinterpreted as a price floor.
“This means that when you have a price ceiling, you do not want the price to go beyond that yet, the equilibrium price is somewhere high.
“This is because when you have a price floor, equilibrium is supposed to be below the price floor, and that is more or less a misinterpretation.’’
According to him, under-recovery will not continue for a long time because when the PIGB is assented to, the NNPC becomes a commercial entity with shareholders that will receive dividends.
“This means that there will be key performance indicators that whoever is heading NNPC will deliver to shareholders,’’ Iledare said.
On his part, Vice President of NAEE, Prof. Adeola Adenikinju, said he was worried about the structure of subsidy in Nigeria.
“If you look at Kerosene, the poor people buy it at market price; diesel, the companies buy at market price and petrol, which is the product that is widely used by the elite, is the one that has this kind of issue.
Nobel Laureate, Professor Wole Soyinka, has called on Nigerians to reject silence in the face of extrajudicial killings and other abuses of human rights.
Soyinka stressed that accountability and civic courage remain essential to rebuilding public confidence in the nation’s institutions.
He made the call during the 28th Wole Soyinka Lecture held in Port Harcourt, last Friday as part of activities marking his 92nd birthday.
The lecture, themed “Reclaiming the Nigerian State through Accountability, Justice and Civic Courage,” drew participants from different sectors of society.
The renowned playwright and human rights advocate said the country’s greatest tragedy was not only the unlawful killings carried out by state and non-state actors, but also the silence that often follows such incidents, allowing perpetrators to evade justice.
According to him, indifference by citizens to abuses of power and violations of fundamental human rights has contributed to the persistence of extrajudicial killings and other forms of injustice across the country.
Soyinka said he dedicated this year’s lecture to victims of unlawful killings, noting that the event was intended to honour individuals who had lost their lives as a result of failures within the justice system and society’s inability to protect the sanctity of human life.
He stressed that the lecture was dedicated to what he described as the basic unit of every society – the human being, and urged Nigerians to place greater value on human dignity irrespective of ethnicity, religion or social status.
The Nobel Laureate recalled several incidents of violence, including the fatal shooting and killing of a young man in Ugheli in Delta State by a police officer, and the mob killing of Deborah Yakubu in Sokoto State sometime ago, lamenting that many of those responsible are yet to face justice.
He expressed concern that some perpetrators of violent crimes had openly admitted their actions without fear of prosecution, describing such situations as evidence of serious failures within the nation’s justice system.
Soyinka maintained that when justice is delayed or denied, public confidence in state institutions continues to erode, thereby encouraging further violations of human rights.
Responding to critics who accuse him of promoting religious or ethnic divisions whenever he spoke on such issues, Soyinka dismissed the allegations and pointed out that his advocacy has always centred on the protection of human life and the rule of law.
He urged Nigerians to remain vigilant and continue demanding justice in cases of alleged extrajudicial killings, including the recent shooting of a young man by a police officer, stressing that every life deserves equal protection under the law.
The literary icon also recalled an earlier pledge by a past incoming president to make public the files relating to unresolved assassinations and extrajudicial killings, questioning the status of the promised investigations.
He challenged citizens to continue asking questions about unresolved cases, insisting that justice, accountability and respect for human dignity are indispensable to building a peaceful, democratic and inclusive Nigerian society.
The Federal Airports Authority of Nigeria (FAAN) has clarified that there was no fire at Terminal 2 of the Murtala Muhammed International Airport, Lagos, contrary to its earlier advisory.
Earlier yesterday, FAAN had announced that a fire incident had occurred at Terminal 2 of the nation’s busiest airport, and assured that its Aerodrome Rescue and Firefighting Service had been deployed to contain the situation.
There were also reports that activities were briefly disrupted at the airport yesterday after smoke was seen inside parts of the terminal.
Videos circulating online showed passengers kept standing outside the terminal while firefighters responded to the incident.
However, in an update issued less than two hours later by the Director of Public Affairs and Consumer Protection, Henry Agbebire, and posted on FAAN’s official X handle, the authority said preliminary findings showed that the smoke seen at the terminal was caused by the discharge of the facility’s FM-200 fire suppression system.
“Further to our earlier advisory regarding the incident at Terminal 2 of the Murtala Muhammed International Airport, Lagos, the Federal Airports Authority of Nigeria (FAAN) wishes to provide the following update,” the statement read.
“Preliminary findings indicate that there was no fire at the terminal. The smoke observed within the affected area resulted from the discharge of the terminal’s FM-200 fire suppression system. The reason for the activation of the fire suppression system is currently being investigated,” FAAN stated.
The authority said normal operations had resumed at the terminal while investigations were ongoing to determine the cause of the incident.
“Normal operations have since resumed at the terminal, while detailed investigations are ongoing to determine the exact cause of the incident,” the statement added.
The authority thanked passengers, airlines, airport users and other stakeholders for their understanding and cooperation.
FAAN appreciated the understanding and cooperation of passengers, airlines, airport users and all stakeholders, and reiterated its commitment to the safety and security of all airport operations.