PIB’ll secure future of Nigeria’s oil industry, says Kyari

Tue, 13 Oct 2020 Source: Economic Confidential

Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari, Monday, disclosed that the passage of the Petroleum Industry Bill, PIB, would effectively secure the future of Nigeria’s oil and gas industry and attract the much-needed investments into the sector.

Speaking at the Third Annual Lecture and Awards of ValueChain Magazine, Kyari stated that the NNPC was opened to collaboration with all stakeholders to ensure the quick passage of the bill, while he urged all Nigerians, especially the media to continually scrutinize issues in the bill.

He said: “As you all know here, the PIB is by no means the single most important piece of legislation for this administration and by extension for us in the Industry. Although the bill is still not yet over the line after two decades, it gladdens my heart that there is a renewed commitment on the part of everyone to get it passed.

“On our part as NNPC, we shall sustain our unflinching support to the government and the media in efforts at educating the public on this legislation.

“I am optimistic that through positive engagement and collaboration between the Executive, the Legislature and other stakeholders, the PIB will smoothly scale through the remaining legislative hurdles so that in the coming days, Nigerians will begin to see that with such legislation in place, the future of Nigeria’s oil and gas industry is certain and assured.

“We are also open to partnerships with the media in terms of capacity building especially as it relates to the PIB. I am of the opinion that every Nigerian deserves to know what this legislation means for the Nigerian oil and gas industry. It is therefore duty-bound on the media to continue to scrutinize the provisions of the bill in order to provide validation and even additional value.”

Kyari commended the media and entire Nigerians for their interest in how the NNPC was being run.

However, he expressed concerns that some of the coverage on the NNPC, stating that some of the representations of the corporation were not reflective of the real issues.

He said: “I understand also that greater engagements would have led to appropriate clarity. I have said it times without number that the NNPC is never afraid of any scrutiny. We will continue to play our strategic role as a key enabler of Nigeria’s economy.

“Our commitment towards entrenching Transparency, Accountability and best-in-class Performance Excellence (TAPE) in all our operations is still unshakeable. Since coming on board, we have been very open in our dealings with all our partners and stakeholders.

“From the unprecedented publication of our Audited Financial Statement (AFS) and monthly financial and operational reports to crude term contracts and several other bids and contracting processes, we are not relenting until this great corporation attains global excellence.

“The media has indeed served as a platform for clarification and enlightenment on issues and trends in that affect NNPC and the broader oil and gas sector. From oil price crash to the COVID 19 pandemic, Nigerians have followed with keen interest the developments as they unfold on our pages and screens.

“Top on the agenda at the moment is the Petroleum Industry Bill. Although the conversation has been on for over two decades, the media have beamed their searchlight on almost every process of the bill’s journey thus far.

“As Industry practitioners, we are well at home with our responsibility of not only ensuring that the PIB is passed into law, but also with the task of delivering value to our most important stakeholders, the over 200 million Nigerians.”

Source: Economic Confidential