PIB: Knocks, kudos trail Buhari’s assent

Mixed reactions trailed the signing into law of the Petroleum Industry Bill (PIB) by President Muhammadu Buhari on Monday.

While the Pan Niger Delta Forum (PANDEF) and the opposition Peoples Democratic Party (PDP) led the pack in condemning the President’s action, the Senate and the Nigeria Extractive Industries Transparency Initiative (NEITI) led those who hailed the President for assenting to the bill.

The Daily Times recalls that President Muhammadu Buhari signed the Petroleum Industry Bill (PIB) 2021 into law earlier on Monday.

This was contained in a statement by his Special Adviser on Media and Publicity, Femi Adesina, on Monday.

Working from home owing to a five- day quarantine as required by the Presidential Steering Committee on COVID-19 after returning from London on Friday August 13, the President assented to the Bill Monday August 16 in his determination to fulfill his constitutional duty, Adesina said.

The Petroleum Industry Act provides legal, governance, regulatory and fiscal framework for the Nigerian petroleum industry, the development of host communities, and related matters.

Reacting to the development, PANDEF said the signing of the PIB into law by President Buhari shows the feeling of Niger Delta people does not matter.

The forum expressed its displeasure in a statement issued on Monday by Ken Robinson, its national publicity secretary.

PANDEF said the law is unacceptable to the people of Nigeria Delta.

“It’s quite unfortunate that President Muhammadu Buhari went ahead to assent to the Petroleum Industry Bill, despite the overwhelming outcry and condemnation that greeted its passage by the National Assembly, especially with regards to the paltry 3% provision for the Host Communities Development Trust Fund and the brazen appropriation of an outrageous 30% of NNPC Ltd profit for a dubious, nebulous Frontier Oil Exploration Fund,” the statement reads.

“This PIB falls way short of the expectations of the Oil and Gas Producing Communities that bear the brunt of unconscionable industry operations.

PANDEF added that the Niger Delta people would make public their position on Buhari’s “callous act” after consultations.

“This assent, by President Buhari, simply speaks to the repugnant attitude of disregard, propelled by arrogance, disdain and contempt with which issues concerning the Niger Delta Region are treated, particularly, by the present Administration.

“What this act signifies is an unequivocal message to the Niger Delta people that how they feel and what they say, do not count, at all, in the Schemes of the Nigerian Project.

“That’s insensitive, abominable and afar every boundary of proper Democratic practice, and, therefore, unacceptable to the good people of the Niger Delta, the critical economic nexus of the entire Nigerian territory.

“The Niger Delta people will speak, shortly, after full consultations, on this callous act, on the best legal and political response,” the statement further read.

In its reaction, the Peoples Democratic Party (PDP) knocked President Buhari for ignoring the outcry by Nigerians across board not to sign the ‘offensive, repugnant and anti-people Petroleum Industry Bill (PIB), as passed by the National Assembly, into law.

The party noted that the signing of the law, despite widespread public rejection, amounts to endorsement of imposition and further confirms that President Buhari and his All Progressives Congress (APC) have no iota of respect for the people as well as the tenets of democracy as a system of government.

The PDP in a statement by Kola Ologbondiyan, said by his action, President Buhari has only authenticated that he is not a listening leader and that the APC and its leaders are only out to trample on the will of Nigerians for their selfish interests.

“In putting his hands to endorse the obnoxious bill, even with its distasteful, paltry and provocative 3% revenue to oil producing communities, President Buhari and the APC have again displayed disdain and insensitivity to the sufferings of the people of the Niger Delta.

“The PDP holds that such is the height of contempt to oil producing communities, particularly in the face of the challenges which they face as a result of oil exploration.

“Noting that Mr. President could have returned the bill to the National Assembly with a request that it is made to address the demands of the oil producing communities, our party fears that the new law cannot guarantee the desired stability and development in the oil and gas sector as well as respite in the Niger Delta region.

“If anything, the Act as signed by President Buhari is a dangerous recipe for avoidable crisis in the sector”, the statement read.

The party called on President Buhari to salvage the situation by immediately forwarding an amendment bill to the National Assembly to reflect the true wishes and aspirations of every segment of our nation.

While calling for calm across the country, particularly the South-South geo-political zone, the PDP also charged lawmakers elected on its platform to be at alert even as preparation must be commenced for an urgent amendment to this law.

However, the Senate described the assent by President Buhari to the Petroleum Bill as a major victory that has the potential of bailing Nigeria out of its economic predicament.

It added that this will enable the country to make the most of economic gains of the oil industry for the benefit of Nigerians.

Senate spokesperson and Chairman, Senate Committee on Public Affairs, Dr. Ajibola Basiru, said this in a statement Monday while congratulating the Executive arm of the government led by President Mohammadu Buhari, the leadership and members of the National Assembly and all other stakeholders in the oil industry.

The Senate regretted that efforts at passing the protracted bill which was first initiated in 2003 had been subjected to a dilly dally affair between the previous legislatures and the executive.

Basiru in the statement said “the 9th National Assembly finally broke the jinx when it recently passed the Bill after working dispassionately by putting the interest of the nation first over petty squabbles and other self-interests, thereby laying finally to rest previous failed attempts”.

The Senate attributed the success of the assent to the Bill which has now become an Act to the complementary efforts of all participating sectors in the process and also the non- confrontational policy of the present National Assembly.

Talking about the benefits of the law, Basiru said that it will juice up the National Economy by liberalizing the petroleum sector and that it will pave the way for investors, both local and international, to invest in the oil sector with the government on a competitive basis.

President Buhari had on September 2, 2020 forwarded a draft of the bill to both chambers of the National Assembly.

Also, the Nigeria Extractive Industries Transparency Initiative (NEITI) described as a historic development, the assent of President Buhari to the Petroleum Industry Bill (PIB).

The Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji, said this in a statement signed by Mrs. Obiageli Onuorah, Head Communication and Advocacy, in Abuja, on Monday.

Orji said the new Petroleum Industry Law had ended decades of uncertainty concerning the future of Nigeria’s oil and gas sector.

“The new law has opened a new phase of wider opportunities in the oil and gas industry.

“For us in NEITI, President Muhammadu Buhari has broken new grounds, created new business horizon built on healthy legal frameworks with realistic optimism for inflow of investments, revenue growth and job opportunities,” he said.

He applauded the Presidential assent to the bill, adding that NEITI looked forward to playing active roles in designing a new future for Nigeria’s oil and gas industry under the new Petroleum Industry Act.

“The signing into Law of the PIB has demonstrated government’s resolve to strengthen governance processes and systems, especially in the extractive industry through an institutional and legal framework.

“NEITI is encouraged by the development,” he noted.

Orji further expressed delight that the “The Petroleum Industry Law will provide the dynamic legal governance framework required to re-position Nigeria’s petroleum industry to fully embrace competition, openness, accountability and professionalism.

According to him, the law will bring about better returns on investments to both companies and government.

“I want to also use this opportunity to call on companies, government agencies and civil societies involved in the oil and gas sector governance to give this law a chance to succeed.

“NEITI will study the contents of the new law and work with national and global partners, especially the EITI to use the law to open the Nigeria oil and gas sector for transparency, accountability and inflow of foreign direct investments into Nigeria.

“NEITI is hopeful that the huge revenue losses which Nigeria has witnessed over these years as a result of process lapses and weaknesses in previous laws will be checked, while restoring investors’ confidence in Nigeria’s oil and gas sector,” he said.