Our Reporter, Asaba

The recently signed Petroleum Industry Act, PIA, requires the understanding and engagement of all stakeholders for socio-economic and human capital development of the Niger Delta region, country Director, Oxfam, Dr. Vincent Ahonsi, has said.

The country Director who made this position in Asaba, Delta State, at a recently held Stakeholders’ dialogue on the PIA, said even after signing of the Bill into law by President Mohammedu Buhari, many communities are stilling battling with understanding contents of the law hence the sensitisation and awareness.

The Stakeholders’ Dialogue was an effort to recreating more awareness and sensitising
oil producing communities from the Niger Delta region on the Petroleum Industry Act (PIA) with a view to discussing section of the law, highlight its importance and listen to community feedbacks.

The Stakeholders’ Dialogue was co-organised by Oxfam from the oil industry, Civil Society Legislative Advocacy Centre (CISLAC), and National Orientation Agency (NOA) with a view to engendering ownership of the new law and buy-in of the communities in its implementation.

Speaking further, Ahonsi said that the new law seeks to promote growth and eliminate uncertainties in the legal and regulatory frameworks of the petroleum industry.

“The PIA provides the legal framework for the regulation of all the players in the Nigeria oil and gas sector. The Act has well spelt out provisions for streamlining roles and responsibilities of agencies and regulators with the proposed creation of the Nigerian Upstream Regulatory Commission and the Nigerian Midstream and downstream Petroleum Regulatory Authority as the main regulators of the downstream, midstream and upstream sectors.

“It also provides for the transition of the Nigeria National Petroleum Corporation to Nigeria National Petroleum Company Limited. The new Nigeria National Petroleum Company Limited is anticipated to operate under the guidance of a board as a commercial entity”, said Ahonsi.

The Oxfam boss also said that provisions are also made for the establishment of the Host Community Development Trust Fund to provide funding for the development of oil producing communities and mitigate the risks for conflict and restiveness in the communities.

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“This ownership of, and buy-in in the implementation of the PIA will help in no small measure to facilitate a reduction in Nigeria’s debt profile, curb food inflation, reduce inequality and reduce poverty”.

“Oxfam remains committed to working with Nigeria government, the private sector and the civil society towards achieving a sustainable, inclusive and just recovery, post COVID-19 pandemic.

“Oxfam is once again using this opportunity to call on Nigeria government not to listen to IMF’s counsel that West African countries should introduce austerity measures as a way to recovery.

“Austerity measures as being advocated for by the IMF has the potential to further worsen current inequality and poverty; and its effects will be worst felt by the vulnerable and marginalized people, including women, older people, racial and ethnic minorities, informal workers and low-income families”, said Oxfam Country Director.