NEITI, stakeholders call for diligent implementation of PIA
NEITI, stakeholders call for diligent implementation of PIA
By Matthew Eloyi
The Nigeria Extractive Industries Transparency Initiative (NEITI) and other stakeholders in the oil and gas industry have called for diligent implementation of the Petroleum Industry Act (PIA) to ensure that the intended reforms in the sector are achieved.
The stakeholders who spoke at a roundtable on PIA organized by the Centre for Transparency Advocacy (CTA) in Abuja noted that with the law in place, the country would be able attract the needed investment for the sector.
In his presentation, the Executive Secretary of NEITI, Dr Orji Ogbonnaya Orji commended the Federal Government for enacting the PIA after twenty years of the process that initiated the petroleum industry reforms, and 13-years after the formal process of legislation started.
Orji disclosed that NEITI has taken “note of specific provisions that promote the objectives of transparency, accountability, operational efficiency and generally, improved corporate governance of the oil and gas sector.
“These objectives have been the focus (and concern) of NEITI since the agency began work in 2004.
“In view of this precedence, and in line with the global standards for good and effective governance of the extractive industry, NEITI further commends government in respect of the following provisions of the PIA.”
On his part, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Malam Mele Kolo Kyari said the Corporation was ready to make the needed transition into commercially oriented outfit.
Represented by his aide, Lawal Musa, Kyari stressed that unlike in the past, the government is using to PIA to grow the sector rather than focusing only on revenue.
NEITI, stakeholders call for diligent implementation of PIA
