Reps mull stakeholders summit on new PIB

House of Representatives yesterday disclosed that it would hold a stakeholders conference in June, with a view to having a broad view on the new Petroleum Industry Bill (PIB).

The decision, according to the house is predicated on the inability of the executive to forward a new version of the bill to the National Assembly.

In a statement signed by Victor Nwokolo, the lawmakers would collate suggestions on the new bill, for presentation at the plenary session of the house.

It would be recalled that the Speaker, Yakubu Dogara, had earlier this year said the chamber was drafting its own version of the bill, due to failure by the executive to forward its proposed version.

The statement said the planned workshop would hold from June 13-15th, 2016, at the International Conference Centre, Abuja.

The workshop is in furtherance of its commitment to ensuring the passage of an appropriate legal framework for the management and development of the petroleum industry in Nigeria.

The primary objective of this workshop, according to the statement, is to bring stakeholders in the industry together in order to avail them the opportunity of discussing relevant issues pertaining to the industry.

This is with a view to deepening contributions that would guide the expected reforms in the petroleum industry, with a view to getting appropriate legal framework.

According to the house, expectations are high that deliberations at the workshop will enhance the quality of debates that would arise in due course.

‘’For the facilitators, participants and the general public particularly members of the National Assembly, the workshop provides a unique opportunity to learn more about the petroleum industry, how it works, why reforms have failed in the past and why they must not fail this time,” the statement said.

The workshop would give interested persons greater appreciation of the opportunities and challenges of the sector

‘’It is further expected that tasks undertaken will be devoid of sentiments and positively driven by the over-riding objective of ultimately aiding a smooth legislative process,’’ the statement added.

According to the lawmakers, the workshop would interface with connected set of bills, which seek to promote transparency, robust governance mechanisms and clearly define roles.

The planned workshop provides framework for a standardised and acceptable platform for fiscal and revenue generation and management.

Part of the expectations is regulation of the potentials of the upstream and downstream sectors, positive promotion of environmental and community benefits as well as corporate social responsibility.