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PIA Act Designed For Money, Contracts Sharing, Says Agbakoba

Published

1 year ago

July 11, 2024

A Senior Advocate of Nigeria, Dr Olisa Agbakoba, has said the provisions of the Petroleum Industry Act were designed for money and contract sharing and not the country’s development.

He also challenged politicians and other stakeholders to highlight one successful commercialised or privatised government entity in Nigeria.

He alleged that privatized Nigerian-owned entities are for the benefit of a few individuals rather than the entire Nigerians.

Explaining his stance against the Petroleum Industry Act while featuring on Arise TV’s Morning Show on Thursday, the legal luminary insisted that the PIA was designed for revenue sharing for the benefit of a few individuals.

He said, “The big question is if the PIA is such a fantastic bill, why are we having fuel scarcity that I first experienced in 1972. Why is it continuing? So something is wrong. There was a misconception and I regret I was part of the misconception that commercialisation necessary means efficiency, it doesn’t.”

According to him, China does not commercialise anything, China runs state capitalism. Saudi Arabia and Aramco also run state capitalism.

Agbakoba said, “So, I personally retract what I felt initially that commercialisation and privatisation are vehicles of development, they are not in so far as Nigeria is concerned.

“Because I will challenge anybody to show me one successful privatised entity since this started in 2000. What has happened is that the state enterprises have been privatised into private pockets of individuals. Nothing has come to Nigerians as specified in Section 14 and we remain very poor. Poverty is everywhere to the point… we must be careful about food riots.

“How can Section 64 of the PIA appropriate our federal revenue to the NNPCL? Section 64 (of PIA) allows the NNPCL to draw money outside Section 62 of the Constitution that says all resources, whether taxed or not taxed shall be paid into the federation account. But section 64 of the PIA, a lower law to the Constitution enables the NNPCL to draw out money and you want me to support it?”

The former Nigerian Bar Association president added, “Now, what I see in this thing (PIA) is the usual ‘chop chop’ and contract sharing. PIA is designed to be a sharing thing. I am positing that the surrender of our national resources to IOCs in the context of production-sharing contracts or joint ventures contradicts the meaning of my sovereignty given to me in Section 14. What did the IOC come here to do? It is just to make money. So, the joint ventures enable the IOCs to take their own share and the government to take its own share.

“Neither the government nor the IOCs have developed Nigeria. So, I am saying we should move from contract oil which is all about sharing and nothing about development. There is not a word in the PIA apart from the host communities that talk about the people of Nigeria. So, how can that be a bill or a law that is for the good of Nigeria and Nigerians? So, that’s my general concept on why the PIA should go.”
PUNCH

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Otuaro Felicitates Tompolo On Honorary Doctorate Award

Published

13 hours ago

December 2, 2025

Editor

Administrator of the Presidential Amnesty Programme (PAP), Dr Dennis Otuaro has congratulated High Chief Government Oweizide Ekpemupolo, popularly known as Tompolo, on the conferment of an Honorary Doctorate of Laws (LLD) by the E.K. Clark University.

Otuaro described the recognition as well-deserved and befitting, noting that Tompolo has, over the years, demonstrated uncommon commitment to the peace, progress, and stability of the Niger Delta and Nigeria at large.

According to him, Tompolo’s role in sustaining peace in the region, particularly through his steadfast support for dialogue, community engagement, and nonviolent approaches to conflict resolution, has made a significant contribution to national security and economic stability.

He further noted that, beyond his contributions to peacebuilding, Tompolo has demonstrated extraordinary compassion, philanthropy, and devotion to humanitarian causes.

He added that his investments in youth empowerment stand as clear evidence of a man whose heart is truly with his people.

“Tompolo’s good heart, generosity, and love for humanity distinguish him as a leader of rare character,” Otuaro said.

The PAP Administrator commended E.K. Clark University for identifying and honouring a personality whose impact continues to resonate across the Niger Delta and beyond.

He urged other institutions to emulate such gestures that celebrate individuals advancing society through selfless service.

Dr Otuaro prayed for God’s continued guidance, long life, and strength for High Chief Ekpemupolo as he continues to serve the Niger Delta and Nigeria with dignity, wisdom, and compassion.

News

JUST IN: Defence Minister, Badaru Mohammed Resigns

Published

14 hours ago

December 1, 2025

Editor

The Minister of Defence, Mohammed Badaru, has resigned his appointment with immediate effect.

His resignation was contained in a letter addressed to President Tinubu and dated December 1.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, confirmed this on Monday.

The presidential spokesman said Abubakar resigned on health grounds.

News

Police Deny Opening Recruitment Portal, Warn Nigerians Against Fake Adverts

Published

15 hours ago

December 1, 2025

Editor

The Police Service Commission has debunked reports circulating on social media and several unofficial websites claiming that it has opened a portal for recruitment into the Nigeria Police Force.

The Commission described the publications as fake, warning that they were created by fraudsters seeking to deceive and exploit unsuspecting Nigerians.

In a statement published on its official website on Monday, the PSC said it had not commenced any recruitment exercise.

“The general public is hereby informed that these publications are fake and entirely misleading.

“They are the handiwork of fraudsters attempting to exploit innocent citizens,” the Commission said.

It added that no recruitment portal had been opened by the Commission.

“There is currently no ongoing recruitment into the Nigeria Police Force.

“The Police Service Commission has not opened any portal for such an exercise,” the statement added.

The PSC stressed that whenever recruitment begins, the announcement will be made strictly through authorised platforms.

According to the statement, official channels include advertisements in reputable national newspapers, announcements posted on the Commission’s verified website (www.psc.gov.ng), and formal press releases.

“We urge Nigerians to rely only on information published through these official channels.

“Any recruitment portal not listed on our website is fraudulent and should be reported to the police,” the commission said.

The PSC advised the public to ignore the fake recruitment claims to avoid falling victim to scams.

The PUNCH had reported that the Police Service Commission has cautioned Nigerians seeking a career in the Nigeria Police Force to beware of fake recruitment adverts circulating online, insisting that it has not yet commenced the 2025 recruitment exercise.