PIGB: Senate moves to protect oil workers from sack 


February 8, 2017 | 10:14 pm
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The Senate is working out plans to protect oil workers from immediate sack in the event of passage and implementation of the Petroleum Industry Governance Bill (PIGB).

Consequently, the Senate Joint Committees on Petroleum (Upstream and Downstream) and Gas has set palliative for sacked oil workers when the legislation comes into effect.

The joint committee, at an interactive session with its technical consultant, agreed to the recommendation that oil workers presently engaged by the Federal Government, be allowed to serve for five years after deregulation of the oil sector before disengaging them.

The technical consultant had in its presentation made by its leader, Osten Olorunsola to members of the committee on conditions to guide the implementation of the planned oil sector reform among others, advised that no staff should be disengaged until after five years of implementation of the law.

The lawmakers however, did not object to the recommendation because, according to them, the Senate was out to engender peace and stability in the oil sector.

At the public hearing of the bill last year, Senate President Bukola Saraki had assured that all the 11 economic recovery bills including PIB would be passed alongside the 2017 budget, currently at committee stage.

Part of the document provides for the governance and institutional framework for the oil and gas industry.

The PIB was broken down into five parts to allow for an in depth analysis of the bill.

One of the cardinal objectives of the Petroleum Industry Bill (PIB) is to create a single regulatory agency for the petroleum sector.

The bill splits the NNPC into two separate entities namely the Nigeria Petroleum Assets Management Company (NPAMC) and a National Oil Company (NOC).

The NOC will be an integrated oil and gas company operating as a fully commercial entity and will run like a private company.

The bill began its journey of passage in the National Assembly in 2008, when the late President Umaru Yar’adua forwarded it as an executive bill for consideration.

As a strategy towards taking a holistic look at the report of the Technical Consultant on the impending deregulation of the oil sector, the Senate committee has also planned a retreat in Uyo, the Akwa-Ibom state capital.

The planned retreat will commence from Wednesday, February 15, 2017 to Saturday, February 18, 2017.

Members of the joint committee requested the consultant to package the report in electronic devices and transmit to them for easy consumption.

Chairman of the Joint Committee, Tayo Alasoadura, asked the consultant to copy the report into flash drive for each of the members latest by Thursday.


February 8, 2017 | 10:14 pm
  |     |     |   Start Conversation

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