President Muhammadu Buhari, has transmitted the much awaited Petroleum Industry Bill 2020 to the National Assembly and has proposed the creation of the Nigerian National Petroleum Company Limited (NNPCL).
The bill proposes the scrapping of the Nigerian National Petroleum Corporation (NNPC) and the Petroleum Products Pricing Regulatory Agency (PPPRA).
The bill states that the NNPC Limited will be incorporated by the Minister of Petroleum, who together with his finance counterparts, will determine NNPC’s assets and liabilities that will be inherited by the new firm.
Section 54(1, 2 and3 )) reads in part, “The Minister (of Petroleum) and the Minister of Finance shall determine the assets, interests and liabilities of NNPC to be transferred to NNPC Limited or its subsidiaries and upon the identification, the minister shall cause such assets, interests and liabilities to be transferred to NNPC Limited.
“Assets, interests and liabilities of NNPC not transferred to NNPC Limited or its subsidiary under subsection 1 of this section shall remain the assets, interests and liabilities of NNPC until they become extinguished or transferred to the government.
“NNPC shall cease to exist after its remaining assets, interests and liabilities other than its interests, assets, and liabilities transferred to NNPC Limited or its subsidiaries under subsection 1 of this section shall have been extinguished or transferred to the government.”
According to Section 53 of the bill, the minister shall “within six months from the commencement of this Act, cause to be incorporated under the Companies and Allied Matters Act, a limited liability company, which shall be called Nigerian National Petroleum Company (NNPC Limited).
“The minister shall be at the incorporation of NNPC Limited, consult with the Minister of Finance to determine the number and nominal value of the shares to be allotted which shall form the initial paid-up share capital of the NNPC Limited and the government shall subscribe and pay cash for the shares.
“Ownership of all shares in NNPC Limited shall be vested in the government at incorporation and held by the Ministry of Finance incorporated on behalf of the government.”
The bill also proposes the establishment of an agency known as the Nigerian Upstream Regulatory Commission which will be responsible for the technical and commercial regulation of upstream petroleum operations.
Section 4 of the bill states in part, “There is established the Nigerian Upstream Regulatory Commission (the commission) which shall be a body corporate with perpetual succession and a common seal.
“The commission shall have the power to acquire, hold and dispose of property, sue and be sued in its own time. The commission shall be responsible for the technical and commercial regulation of upstream petroleum operations.”
The proposed law also recommends the creation of the Nigerian Midstream and Downstream Petroleum Regulatory Authority known as ‘The Authority’.
Section 29 of the bill states in part, “There is established the Nigerian Midstream and Downstream Petroleum Regulatory Authority (the Authority) which is a body corporate with perpetual succession and a common seal.
“The Authority shall be responsible for the technical and commercial regulation of midstream and downstream petroleum operations in the petroleum industry.”
The new bill technically scraps the PPPRA with the creation of the new agencies that will now carry out the PPPRA’s functions.
Efforts to reform the oil industry date back two decades, when the then President, Olusegun Obasanjo, inaugurated the Oil and Gas Reform Implementation Committee in April 2000. The committee was tasked to review and streamline all existing petroleum laws and establish an all-inclusive regulatory framework for the industry.
The administration of President Umaru Yar’Adua continued the project and the PIB was presented to the Sixth National Assembly in September 2008. But the bill stalled over disagreements on the sharing of oil profit among the international oil companies, host communities and the federation, according to the Nigeria Extractive Industries Transparency Initiative.
In July 2012, the administration of President Goodluck Jonathan forwarded a revised version of the PIB to the Seventh Assembly, but it suffered the same fate that befell it in the previous legislative cycle. It was passed by only the House of Representatives at the tail end of their term.
The slump in global crude oil prices, from a high of $115 per barrel in mid-2014 to $28pb in January 2016, combined with the regulatory uncertainty occasioned by the delay in passing the PIB to worsen the state of the industry.
In the first term of Buhari, the Eighth NASS split the bill into four parts – the Petroleum Industry Governance Bill, Petroleum Industry Administration Bill, Petroleum Industry Fiscal Bill and Petroleum Host Community Bill — in a bid to fast-track its passage into law. The PIGB was passed by the Senate and the House of Representatives in May 2017 and January 2018 respectively.
After its passage by the NASS, the PIGB was transmitted to Buhari for assent in July 2018, but he eventually declined to sign the bill into law. According to the Presidency, the provision of the PIGB permitting the Petroleum Regulatory Commission to retain as much as 10 per cent of the revenue generated is one of the reasons Buhari declined to assent to the bill.
Attempts to get comments of the Special Adviser to the President on National Assembly Matters (Senate), Senator Babajide Omoworare, did not succeed on Sunday night. He had yet to reply a text message sent to him as of the time of filing this report.
Stakeholders Harp On Collection Of PVCs …As Okrika Hosts GDI Sensitisation Rally
The Grassroot Development Initiative (GDI), has tasked eligible voters in Okrika Local Government Area of Rivers State to focus efforts at the collection of their Permanent Voters’ Cards (PVCs) to enable them actively participate in the 2023 elections.
The stakeholders gave the charge, last Wednesday, during a PVC sensitisation rally at Okochiri.
Thousands of dignitaries from far and near Okrika Kingdom stormed the ancient town for the sensitisation programme.
In a brief speech, the state Chairman of PDP, Amb Desmond Akawor, reminded GDI and PDP members and supporters to intensify mobilisation and enlightenment of the electorate on the need to arm themselves with their PVCs to enable them exercise their franchise during the forthcoming elections.
Also speaking, two chieftains of the PDP, Dr Sampson Parker, and Hon Ibibia Walter, assured that Okrikans were already energised to ensure that their votes count during the 2023 elections by registering and collecting their PVCs.
They urged those who were yet to collect their PVCCs to do so without further delay.
In his remarks, President-General of GDI, Hon. Bright Amaewhule, said the political pressure group embarked on the sensitisation programme with the aim of ensuring that no eligible voter in the state was left behind in efforts to elect acceptable leaders into the Executive and all Legislative offices in 2023.
Amaewhule challenged all those who were yet to collect their PVCs to rush to the nearby Independent National Electoral Commission office or PVC Collection Centre to pick up their PVCs, and get ready to do themselves proud by exercising their franchise come 2023 elections.
Among the dignitaries were the Rivers State Chairman of the Inter-Party Advisory Council (IPAC), Amb Desmond Akawor; some members of the Peoples Democratic Party (PDP), including the Deputy Chairman, Chukwuemeka Aaron; and the state Secretary, Dr Benibo George; who were there on solidarity.
There were also past and present LGA chairmen, serving and former lawmakers and commissioners in the state, party stalwarts and leaders, including Dr Sampson Parker, Hon. Ibibia Walter, and former NUPENG National Chairman, Comrade Igwe Achese, among others.
The event featured ward-by-ward gyration by GDI members in Okrika and solidarity speeches from GDI stakeholders in the area.
They all advised those who have already registered during the just concluded continuous voter registration exercise to ensure collection of their PVCs.
By: Nelson Chukwudi
Nwanosike Reprimands Abati Over Diatribe On Wike
The Chairman of Ikwerre Local Government Area of Rivers State, Engr. Samuel Nwanosike, has reprimanded Dr. Reuben Abati over his diatribe on the Rivers State Governor, Chief Nyesom Wike.
Recall that Abati, an ace journalist and public affairs commentator, had in one of his programmes on Arise TV, took a swipe at the Rivers State governor over his perceived misunderstanding with the Peoples Democratic Party (PDP) presidential candidate, Alhaji Atiku Abubakar, on the choice of his running mate.
Nwanosike, while speaking with newsmen at his office in Isiokpo, last Tuesday, urged Nigerians to disregard the outburst of Dr. Reuben Abati, because, according to him, Abati does not understand the discussion that took place between Governor Nyesom Wike and his team, while advising Abati to properly advice his boss.
According to Nwanosike, “I will advise him to advise his principal properly. A man that won a presidential ticket, and wants to win an election should not send attack dogs to attack those who will gather votes for him.
“In Rivers State, Chief Nyesom Wike is in charge. In South-South, Chief Nyesom Wike is in charge. Chief Nyesom Wike remains the star-man of South-South politics, and we will continue to follow his directions. His leadership quality is okay for us”.
He decried the rate at which men who were meant to be upright and truthful, were attacking and bullying some others because they have easy platforms.
Nwanosike said, “It’s a shame that we have gotten to a level in this country where men who are supposed to say the truth will wake up in the midnight because they have a platform, they have the opportunity, and then, want to bully other Nigerians who are eminently qualified, even more qualified than them, into a position that will suit them”.
He acknowledged that Abati raised some critical issues, but wondered why a first-class material like him has failed to proffer any solution to the issues bedevilling Nigeria.
“Dr. Reuben Abati is or has raised some critical issues. Issue number one is that he started writing and practicing journalism since 1985, and he made a first class in the University of Calabar. It’s a great achievement. But the only problem we have as Nigerians is that all issues, being a first class graduate and writing since 1985, has he produced any result in the Nigerian issues?
“As a first class graduate, he is supposed to be one of Nigeria’s best”, Nwanosike said.
He regretted that Abati bullied former President Goodluck Ebele Jonathan to appoint him as presidential spokesman, but rather worked in connivance with the opposition party to ensure Jonathan’s failure.
“He bullied President Goodluck Jonathan into giving him an appointment as press secretary. Between 2012 and 2013, President Jonathan was considered the best and Nigeria was adjudged one of the fastest growing economies in the world, yet Lai Mohammed came and sold lies to Nigerians not to appreciate the good works of Jonathan, and this Reuben Abati couldn’t do anything to sell the good works of President Goodluck Jonathan because he doesn’t have the capacity.
“In fact, we can accuse Reuben Abati of sabotaging or as one of those who sabotaged the victory of President Goodluck Jonathan. That’s why Jonathan lost that election.
“And today, Reuben Abati’s failure has brought us the destruction of lives and property we have in Nigeria today”, Nwanosike stated.
The Ikwerre Council boss lashed out at Abati for being Atiku Abubakar’s political puppet, and his inability to establish any media outfit, despite his claim of being a media practitioner for over 37 years.
He said, “A man who claims that he has been at the third tier for over 22 years, yet, he cannot tell us of a media investment that he has developed whether it’s a television station of his own or a print media of his own. Rather, what he is doing is to wake up in the morning, wear a suit and tie of his age, seems he is over 60, and come and sit down and churn out lies to Nigerians because his paymaster, Atiku Abubakar, wants to press Nigerians into giving him an opportunity to manage the Nigerian economy because he believes, Atiku Abubakar believes, that being the President of Nigeria is his life ambition”.
Nwanosike noted that what the Rivers State governor said that a leader like Atiku Abubakar, the former Vice President of Nigeria, lied to the Nigerian public about him is factual, saying that one Dr Osina justified Wike’s assertion when he called Alhaji Atiku Abubakar a liar during Dr. Reuben Abati’s Morning Show.
“Governor Nyesom Wike has done well as an Ikwerre man; has done well as a Rivers man; has done well as a South-South man; and represents the image of the South-South people. We are not to talk about age, age is just a number. He has the capacity and competence.
“Chief Nyesom Wike has done well as a chairman of Obio/Akpor Local Government, two-time chairman, built wonderful infrastructures for Obio/Akpor people, and made Obio/Akpor people to understand what dividends of democracy mean, and touched all their wards as a sitting local government chairman.
“He grew to the level of becoming President of Commonwealth Association of Local Government Chairmen. Outside that, Chief Nyesom Wike served in the same administration with Reuben Abati as a minister. He didn’t shop for it”, Nwanosike noted.
He stressed that the legacies of Chief Nyesom Wike as Nigeria’s Junior Minister of Education and even Senior Minister of Education still speak volumes, and remain evergreen, adding that Chief Nyesom Wike has replicated his tremendous achievements in Rivers State.
He urged Nigerians to disregard the outburst of Dr. Reuben Abati because, according to him, he does not understand the discussion that happened between Chief Nyesom Wike and his team, while advising Abati to properly advise his boss.
While digressing, Nwanosike advised the National Chairman of PDP, Senator Iyorcha Ayu, to abide by the party’s Constitution and honourably resign since the presidential candidate of the party is from the same North with him.
Embrace Exclusive Breastfeeding, Banigo Tasks Nursing Mothers
Rivers State Deputy Governor, Dr. Ipalibo Harry Banigo, has reiterated the need for nursing mothers to embrace exclusive breastfeeding to facilitate the healthy growth of their babies.
Banigo stated this in her goodwill message in Government House, Port Harcourt, last Wednesday, to commemorate the 2022 World Breast Feeding Week.
According to the public health physician, breast milk remains nature’s food for ensuring the health and quality of life for infants through childhood to adult life.
She said expectant mothers should register at the government health facilities spread across the state for their antenatal visits, delivery, and post-natal services, adding that the Governor, Chief Nyesom Wike-led administration cares about the health of nursing mothers and their babies.
The first week of August each year has been set aside as World Breastfeeding Week, which is an initiative to raise awareness on the benefits of exclusive breast-feeding.
The theme for this year’s celebration is: “Step Up for Breastfeeding: Educate and Support”.
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