NNRC launches framework to aid passage of PIB
By Meletus EZE
THE Nigeria Natural Resource Charter, NNRC, has designed 12 precepts that will aid the passage of the Petroleum Industry Bill, PIB. The NNRC says it’s precepts seek to link Nigeria’s overall national strategy for the oil and gas industry.
Speaking in a press briefing in Lagos, Tengi George-Ikoli, programme coordinator, NNRC, said the precepts also link legal and institutional framework, which underpin the PIB.
According to her, the precepts state that resource management should secure the greatest benefit for citizens through an inclusive and comprehensive national strategy, clear legal framework and competent institutions.
“A good PIB must ensure that the rights and obligations of the stakeholders in the oil and gas industry are clear and fair. It must clarify the mandate of the regulator and provide for qualifications for staff and members of the regulatory commission,” she said.
George-Ikoli noted that one of the important elements of the anticipated PIB is the licensing system for the oil and gas industry and that the NNRC has a useful framework to assess a good licensing system.
She explained that the new licensing system must address the process for awarding oil and gas licences in the first place. “Beyond the award of licences, a good PIB also needs to address how the licences awarded are monitored.
“The PIB must also ensure that the rigours applicable to the award of licenses are also extended in its regulation of the transfer of licences to fresh licenses,” she said.
