Financial Energy Review
The President of the Women in Energy Network (WEIN), Mrs Funmi Ogbue has said on Monday that the delays in the passage of the Petroleum Industry Bill (PIB) has led to uncertainties in Nigeria’s Oil and gas industry.
She said that the current sector framework is ineffective, citing regulatory overlaps in responsibilities., “The expedient passage of and purposeful implementation of the PIB is critical to addressing most of the loopholes in the management and governance of the sector.
“The PIB when passed into law will improve governance of the sector by strengthening institutions in the areas of clarity of structures, roles, accountability, transparency, and overall efficiency and effectiveness” she said.
She added that passing of the bill will ensure a new future of legislation in the sector. She urged the National Assembly to apply regulatory oversight on the necessary agencies and impact policies that affect the deregulation of the downstream sector that support women.
“WIEN will be willing to support the NASS in this review and also in proffering practical strategies and programmes that can improve these programmes and others that can improve the lives and livelihoods of poor women” she said.
It will be recalled that the Minister of State for Petroleum Resources, Chief Timipre Sylva has said that the PIB currently with the Executive will be sent to the National Assembly in two weeks time.
Mrs Ogbue called for more women to be involved in the sector, especially in board and leadership positions of the MDA’s in the oil and gas sector, and said her organization lobbies for gender equality in the Petroleum Industry.
