Atiku’s restructuring plan may seek total review of PIB before passage—Expert
More reasons have emerged on why the hanging fate of the Petroleum Industry Bill (PIB) at the National Assembly will continue as there are strong indications that should Peoples Democratic Party’s candidate, Atiku Abubakar wins, a lot will change.
It is still fresh in people’s memory that the supposedly first tranche of the emerging oil and gas industry law, the Petroleum Industry Governance Bill (PIGB) which was passed by the lawmakers was bundled back by President Muhammadu Buhari, who observed issues to decline assent.
In an interview, an energy expert, Charles Dogo told our correspondent that “Going by what I saw inside Atiku’s ‘My Plan to get Nigeria working again’, the Executive Bill on reforming Nigeria’s oil and gas industry which we generally call PIB may have a new version if he wins”.
“Atiku’s plan for managing national assets is very clear and well spelt out in the plan and I don’t see the bill as it is now scaling through under Atiku presidency.
Business Hilights recalls that the tortuous journey of PIB started since 2008 when it was first introduced to the legislature, suffered setbacks in the 6th and 7th National Assembly. The bill seeks to change the organisational structure and fiscal terms governing the industry. Currently, before the 8th National Assembly, it was split into four parts — Petroleum Industry Governance Bill, Petroleum Industry Administration Bill, Petroleum Industry Fiscal Bill and Petroleum Host Community Bill — to fast-track its passage into law.
Analysts say with the clear focus of guided deregulation of the sector if Atiku wins, the original texture and spirit of the PID will change for the better.
Accordingly, industry experts are currently expressing doubt that the PIB would be passed as the general elections and the results might dominate discourse in the National Assembly till May 29.
