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Editorial

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The Nigerian Senate has achieved another feat in the discharge of its duties in the promulgation of laws for good governance by passing the Petroleum Industry Governance Bill, PIGB, which is the first part of the Petroleum Industry Bill, PIB that has been pending on the floor since 2008.

The Nigerian Senate has achieved another feat in the discharge of its duties in the promulgation of laws for good governance by passing the Petroleum Industry Governance Bill, PIGB, which is the first part of the Petroleum Industry Bill, PIB that has been pending on the floor since 2008.


The PIGB is one of the four parts of the PIB, which was split by federal lawmakers to allow for easier passage. We commend the Senate President, Bukola Saraki and members of the National Assembly for breaking the jinx of passing the bill. It is believed that the passage will ensure transparency and accountability and create an enabling environment for the petroleum sector operations.
While the senators differ in opinion during consideration of clauses in the bill, mainly on who would have the responsibility to guard against environmental degradation that is some had wanted the ministry of petroleum resources to be responsible for taking care of oil spills and other forms of environmental degradation, what the lawmakers should consistently consider is the projection of clauses that shall protect the interest of the citizens who are statutory major stakeholders instead of individual's interest. There is also need to maintain global environmental conditions in line with the new world order in cognizance to climate change.
Nigeria Moment is of the opinion that the matter should not be left in the hands of the oil industry because they are all after profits. Going by recent experiences in Nigeria we all know the situation of the Niger Delta as a result of the lack of regulation in the oil industry, so if we leave this matter in the hands of the oil industry, we will end up in a situation where we will spend our time fighting over issues that we should not be concerned with.
We urge the senators to allow environmental issue take precedence over the bottom line so that the people shall be safe. This will enhance a harmonious working relationship between the Nigerian Petroleum Regulatory Commission and ministry of environment to protect the oil producing communities.
 “Not only Nigerians, our friends in the petroleum sector have been waiting for us to put down a framework that will ensure transparency and accountability and create and an enabling environment for the petroleum sector” with this bill, the oil and gas industry will see a new form of investment, reduce corruption and inefficiency in the sector.

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