23.1 C
Abuja

Buhari writes Senate, seeks amendment to PIA

Related

1min read

PRESIDENT Muhammadu Buhari has asked the Nigerian Senate to amend the recently signed Petroleum Industry Act (PIA).

In the letter read by the Senate President Ahmed Lawan on Tuesday, Buhari wanted the removal of the ministers of petroleum and finance from the board of the Nigerian National Petroleum Corporation (NNPC).


Read also:

APC, PDP have no answers for Nigeria’s current challenges -NEF

Your utterances on 2023 are reckless, careless, SaMBA tells NEF

Police retirees protest in Niger, say they have been reduced to beggers


According to him, this was to allow the two offices to continue to perform their functions without necessarily being members of the board.

- Advertisement -

The president also wanted the amendment to allow the non-executive members of the NNPC to be increased from two to six in the interest of the petroleum industry.

Buhari recently signed the controversial Petroleum Industry Bill (PIB) into law, but there have been protests, especially from the South-South region of the country.

The National Assembly had passed the bill in July against the outcries by people of the Niger Delta region of the country who said that three per cent allocated to host communities in the bill should be increased to five.

Socio-political leaders from the region, who were hoping the president was going to deny assent to the bill pending when their demands would be met, were disappointed. They accused the Buhari’s presidency of not showing any regard for the concerns and feeling of the Niger Delta.

Meanwhile, experts have noted that the passage of the PIA could have positive long-term effects on both Nigeria’s public finances and oil & gas production, observing that the impact would depend on details of implementation.

Vincent Ufuoma is a reporter with The ICIR. He is a lover of God, truth, knowledge and justice.

- Advertisement -
- Advertisement -

If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation

Advertisement

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Support the ICIR

We need your support to produce excellent journalism at all times.

Recent

Anambra election: Journalists demand security for media houses

JOURNALISTS have demanded beefed-up security for media houses in Anambra State ahead of the...

Handwashing: How Nigeria squandered success before COVID-19 – UNICEF

NIGERIA blew away a chance to make at least 30 per cent of its...

FG declares Tuesday public holiday to mark Eidul-Mawlid

THE Federal Government has declared Tuesday, October 19, 2021, a public holiday to mark...

Food prices on the increase despite inflation dropping to 16.63% in September

THE Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on...

Nigeria needs modern policies to stimulate financial inflows -DG, LCCI

THE newly-appointed Director-General of the Lagos Chamber of Commerce and Industry Chinyere Almona has...
Advertisement

Most Read

Advertisement

Subscribe to our newsletter

Advertisement