Senate President Bukola Saraki, yesterday, explained that the Senate was introducing host community legislation into the Petroleum Industry Governance Bill, PIGB, 2016, to help complement the Governance and Institutional Framework Bill of the revised Petroleum Industry Bill, PIB.
The Governance and Institutional Framework Bill of the revised PIB, passed the Second Reading at the Senate on Wednesday. In a statement by Mr. Yusuph Olaniyonu, Special Adviser on Media and Publicity to the Senate President, Saraki explained that with the institutional and governance framework aspect of the PIB at the committee stage, it was necessary for the Senate to begin work on the passage of the host community development legislation, aimed at addressing issues relating to community participation, security, and the ecological debt incurred by host communities from oil extraction.
According to the statement: “For many years now, the PIB has been stalled at different stages for one reason or another. At this point, the Senate is ready and willing to do everything that it takes to get Nigeria’s economy out of recession, and the efficient and effective management of our oil resources is a key component of this.
Now that the legislation to provide a governance and institutional framework for the petroleum industry has passed Second Reading, it is time to re-introduce the host community development legislation to address the legitimate agitations of the people of the Niger Delta.
” By the calculation of the Senate President, work on the passage of the two key bills will be nearing completion before the end of this year. The Senate President also stated that he had asked legislators in the Upper Legislative Chamber to work together and introduce the host community development legislation, within four weeks.
He noted that the problems host communities had faced because of decades of oil exploration needed to be addressed. The version of the PIB that is now at committee stage is sponsored by Senator Omotayo Alasoadura and 28 others.
The Bill titled “An Act to Provide for the Governance and Institutional Framework for the Petroleum Industry and for Other Related Matters,” is aimed at creating an efficient and effective governing institution for the petroleum industry by defining clear and separate roles for all entities.
It will also establish a framework for the creation of commercially oriented and profit- driven petroleum bodies for value addition among others.
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