The new draft of the controversial petroleum industry bill (PIB) strips the president of the discretionary powers to allocate oil blocks...
The bill now confers the power to allocate petroleum exploration and production leases and licences to the Nigeria Petroleum Regulatory Commission (NPRC) which shall be established under the act.
The final draft of the new bill, “Petroleum industry governance and institutional framework bill 2015”, available to TheCable, which was concluded on December 2, 2015, limits the power of the president to appoint members of the board of the regulatory commission.
The bill aims to promote transparency and accountability in the administration of the petroleum resources of Nigeria, while creating a conducive business environment for petroleum industry operations.
The new draft, which mentions the senate only twice, says the upper chamber would be responsible for the ratification of governing board members appointed by the president.
“The appointment to the board in respect of persons appointed pursuant to paragraphs (a) to (d) of this section shall be made by the President subject to confirmation of the senate,” the bill reads.
“The chairman and non-executive commissioner shall be persons of high integrity and substantial professional experience; in appointing the chairman and the non-executive commissioner, the president shall have due regard to a fair representation of the technical, legal and commercial interest.”
The initial PIB, which has been stuck in the national assembly for nearly a decade, conferred discretionary powers on the president to allocate oil blocks in addition to competitive open bidding.
As recently as 2012, the PIB presented before the national assembly said “notwithstanding the provisions of the subsection (3) of section 190 or any other provision of this act, the President shall have the power to grant a license or lease under the act”.
culled from the cable news.
Very good
ReplyDeleteThis man and his administration although better than GEJ is just fooling people. OBJ on of his backers now in fully control of his remaining blocks. Pull the other one
DeleteKudos
DeleteIt is about time, all these sharing of oil blocks like itis a family inheritance.
DeleteOk
ReplyDeleteWatching and waiting...
ReplyDeleteExactly
Deletethelma enemuwe said
ReplyDeleteNoted
Next!!
*faithful bv enemuwe thelma*
Lol. Forget it dear,Linda has a lot to do with her money. Mtcheew!!!
DeleteHow can ordinary Nigerians buy, lease or even rent those oil blocks?
ReplyDeleteI beg which market them dey sell am?
Buahahah @Stella u wan venture into oil business. I can help u oooh I am into white and red oil business ooo lol.
DeleteLol. I beg gimme contact to all oils.
DeleteHmmnmmmmm
ReplyDeleteOK that's nice because absolute power corrupts absolutely.
ReplyDeleteGood. I hope d aboki will do d needful
ReplyDeleteYea this is good news.
Deleteaiit
ReplyDelete#GODWIN™
OK..
ReplyDeleteOk
ReplyDeleteIn one trillion voice " End time Bill". Lol
ReplyDeleteReally nice.
ReplyDeletethis is good,but can anyone question him?
ReplyDeleteI pray so sha. Good one
ReplyDeleteGood, right step in the right direction.
ReplyDeleteGood, right step in the right direction.
ReplyDeleteOh dear I will have to advise le boo to sell his
ReplyDeletePeople like Obj will fully support it.
ReplyDeleteThat's good
Great move
ReplyDeleteA much needed move. Hopefully, this change should ensure transparency, fairness and fiscal responsibility in our common patrimony.
ReplyDeleteRemoves the power from the president and gives it to the minister... Who is the minister of petroleum again? I will wait
ReplyDelete