Stakeholders to brainstorm over petroleum sector reforms

Posted by News Express | 27 April 2019 | 959 times

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Stakeholders in oil and gas will on Monday, April 29, 2019, in Lagos brainstorm over the way forward for the sector in terms of reforms and securing greater benefits for Nigeria and her citizens.

The event, organised by the Nigeria Natural Resource Charter (NNRC), a not-for-profit, policy institute that promotes reforms in Nigeria’s petroleum sector; and OrderPaper Advocacy Initiative (OAI), will take place at the Eko Hotel, Victoria Island Lagos.

The programme is an off-shoot of the Development Dialogue Series (DDS) of OrderPaper Advocacy, a non-governmental organisation focused on policy-related, especially legislative engagements that expand the frontiers of good governance and deepening of democratic practice in Nigeria.

It is being organised against the backdrop of the ding-dong affair between the National Assembly and President Muhammadu Buhari on the Petroleum Industry and Governance Bill (PIGB) which was recently passed again by the former after an initial rejection by the President.

Concerns have continued to mount over prevailing uncertainty around the stalemated reforms in oil and gas, which many believe, has a negative impact on the economy with increasing investor flight and a continually dwindling resource base for Nigeria.

In a statement signed by Tengi George-Ikoli, Program Coordinator, NNRC and Oke Epia, Executive Director of OAI on Thursday, the dialogue seeks to consider the economic, financial and social implications of not embracing reforms in the petroleum sector.

Additionally, it will determine ways to engage with the federal government on alternative reforms for the sector.

Representatives from the government, legislature, oil and gas industry executives, the academia, the media, and civil society organisations are expected at the event.

The keynote speaker is the vice president, training, research and development at the International Institute for Petroleum, Energy Law and Policy (IIPELP) at the University of Port Harcourt, Professor Wumi Iledare. Other speakers will include Dr. Adeoye Adefulu, Partner/Head, Odujinrin Adefulu’s Energy Practice; Henry Ademola Adigun of the Facility for Oil Sector Transformation (FOSTER); Israel Aye, founding and Managing Partner of Primera Africa Legal; Olufemi Dawole of Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN); and Joseph Nwaukwe, a renowned expert in the field.

Speaking about the event, George-Ikoli stressed the importance of the petroleum sector and cautioned that the country’s ability to finance her budget and service her debt is dependent on her capacity to generate revenues.

On his part, Mr. Epia emphasised the need to reposition the Nigerian economy for recovery, stressing that the oil and gas sector remains the key transformative tool for diversification and growth.

Source: News Express

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