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Wednesday, September 7, 2016
Not many in Africa’s oil and gas industry will be surprised to hear that the wait for the ever-delayed petroleum industry bill (PIB) from Nigeria will continue. According to officials in Nigeria, the reform bill is on hold until the militant problems in the Niger Delta are resolved.
Nigeria’s PIB has been in the works for a great many number of years but has yet to be legislated. A named priority of President Muhammadu Buhari, the bill covers everything from an overhaul of NNPC to taxes on upstream projects. The PIB has making the rounds at parliament in one form or another for a decade.
“We have to hold it because of all the problems in the Niger Delta,” Senator Tayo Alasoadura, chairman of the committee on petroleum resources, said of the bill in a Reuters report “As soon as things improve, then it will come to the front of the line again.”
Alasoadura said there were no plans to change the bill, which had a first reading in the senate, but the unrest in the Delta, which produces the bulk of Nigeria’s oil output that typically tops two million bpd, forced lawmakers to wait.
“There is a deliberate effort to keep things waiting so we don’t accentuate what is happening there,” he said, adding he hoped the bill could move forward again within three to five months.
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