5 WEKS AFTER SIGNING PIB INTO LAW, BUHARI SEEKS FUNDAMENTAL AMENDMENTS OF THE ACT

Barely five weeks after signing the Petroleum Industry Bill (PIB) into law, President Muhammadu Buhari has written to the Senate seeking amendment of the Act.

The Senate President, Ahmad Lawan, read Buhari’s letter on the floor of the upper legislative chamber on Tuesday.

The president wants the Senate to amend the Act so as to remove the Ministers of Petroleum and Finance from the board of the Nigerian National Petroleum Corporation (NNPC)

Buhari also wants non-executive members of the NNPC board to be increased from two to six.

The president also constituted the board of the Commission and the Authority – nominees which he also forwarded to the lawmakers for confirmation.

The letters were read out by the Senate President, Ahmad Lawan, and the Speaker of the House of Representatives, Femi Gbajabiamila, at the start of plenary on Tuesday.

The appointment of the chairman and members of the board of the Authority, the president said, is in line with 34(3) of the Petroleum Industry Act 2021.

The nominees are; Idaere Ogan – Chairman, Sarki Auwalu – Chief Executive, Abiodun Adeniyi – Executive Director, Finance and Accounts and Ogbugo Ukoha – Executive Director, Distribution Systems, Storage and Retail Infrastructure.

For the Commission, the president appointed Isa Ibrahim Modibbo – Chairman, Gbenga Komolafe – Chief Executive, Hassan Gambo – Executive Commissioner, Finance and Accounts and Rose Ndong – Executive Commissioner, Exploration and Acreage Management.

These appointments, he said is in accordance with the provisions of Section 11(3) of the Petroleum Industry Act 2021.

Leave a Reply

Your email address will not be published. Required fields are marked *