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PIB Should Create a Competitive Environment for Investiment – LCCI

The Lagos Chamber of Commerce and Industry said on Sunday that there is the need to create a competitive environment to attract investment to the oil and gas sector using the Petroleum Industry Bill (PIB) which is before the National Assemy According to LCCI some provisions in the Petroleum Industry Bill, currently in the National Assembly, could adversely affect the ...

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PIB, Electoral Act and Security Top in Our Agenda this Year – Senate President

…………by Musa Ibrahim……….. Senate President Ahmad Lawan says the National Assembly has listed Petroleum Industry Bill (PIB), Electoral Ammmendment Act and Security as top in their priority in this legislative year. According to Lawan, the national Assembly will ensure the passage of the PIB, amendment of the Electoral Act as well as Constitution review between January and December 2021. Lawan ...

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AfCFTA: Trade Minister Advises Nigerian Businesses to Take Opportunity of Agreement

The Federal Government has said that it worked tirelessly to make Nigeria a partaker in the African Continental Free Trade Area (AfCFTA) which goes into effect from January 2021. It, therefore, urged Nigerian businesses to take advantage of the opportunity as it announces plans of a public campaign to highlight the benefits of the agreement. This was disclosed by Mr. ...

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Petroleum Ministry Clarifies Alleged N116m Spent on Pens

The Ministry of Petroleum Resources, Abuja, yesterday clarified its position on the alleged N116 million paid for the purchase of pens and N145 million an official of the ministry paid himself in the course of service, saying the incident did not occur under President Muhammadu Buhari. A statement by the Deputy Director of Information at the ministry, Enefaa Bob-Manuel, noted ...

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PIB: Senate Discover N145 Million Media Campaign Fraud from Petroleum Resources Ministry

…..order refund from Ministry official……. Senate Committee on Public Accounts has unravelled how a management staff in the Ministry of Petroleum Resources allegedly paid himself N145 million as media campaign fund to garner support for the Petroleum Industrial Bill (PIB). The allegation was contained in the 2015 report of the Auditor General of the Federation (AuGoF) submitted to the panel, ...

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SEPLAT Reacts to Sealing of Corporate Building in Lagos

Seplat Petroleum Development Company Plc (“Seplat” or the “Company”) has reacted to a court order which was effected on 2nd December 2020 leading to the sealed off of its building and Corporate Headquarters located at 16A Temple Road, Ikoyi, Lagos. The building was sealed in connection with a court case by Access Bank against Cardinal Drilling Services Limited (“Cardinal Drilling”), ...

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Delta State Deputy Gov. Moves to Settle Rift Between SPDC and Host Community

Delta State Deputy Governor, Deacon Kingsley Otuaro has move in to settle the rift between Ogulagha/Odimodi Communities and Shell Petroleum Development Company (SPDC) while advising all aggrieved communities to always leverage on the state’s peace institutions to resolve conflicts. Otuaro, gave the advise, Friday, shortly after closed-door meeting in Government House Annexe, Warri, with top management staff of SPDC led ...

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PIB Proposes Host Community Development Trust

……….by Abisoye Shola………… The Petroleum Industry Bill (PIB) in the work at the National Assembly is proposing that Oil companies operating in Nigeria are expected to incorporate a host community trust for social and economic benefit from petroleum operations in the host communities. From excerpts in the new Petroleum Industry Bill (PIB) obtained in Abuja, the aim of the trust ...

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Lawmakers: SPDC to Pay Compensation Over Planned Demolition of 800 Building

………by James Ikenna…………… Rivers Lawmakers is demanding Shell Petroleum Development Company (SPDC) to pay compensation to owners of building it marked for demolition. The lawmakers resolved this during it’s executive session in which it questioned the alleged plans by SPDC to demolish 800 buildings. This followed the failure of Shell to honour the invitation to it by members of the ...

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Senate Passes PIB for Second Reading

The Senate on Tuesday at plenary passed for second reading the Petroleum Industry Bill (PIB). The passing of the bill for second reading followed an intensive debate on the intents and purpose of the PIB has been pending before the National Assembly since 2007. The PIB was sponsored for passage in 2007 and 2011 in the 6th and 7th Assembly, ...

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