The House of Representatives’ Committee on Petroleum Resources (Upstream) has said it is seeking “aggressive reforms” in the oil and gas sector towards revitalising the petroleum industry for the benefit of Nigeria.
Part of the reforms under consideration, according to the committee, is the review of the Petroleum Industry Act (PIA).
The Chairman of the committee, Hon. Alhassan Ado Doguwa, made this known at the inaugural meeting of the committee at the National Assembly on Tuesday.
In his address, Hon. Doguwa stated that the meeting was not just a formality but “the embodiment of our collective resolve to steer our nation’s petroleum sector towards unprecedented heights.”
He described the enactment of the Petroleum Industry Act by the 9th Assembly as a watershed moment, “signalling a new dawn of reform intended to revitalise an industry that is the lifeblood of our economy.”
Hon. Doguwa added: “However, the true measure of legislation is not in its passage but in its execution and adaptability. It is with this understanding that we acknowledge the need for ongoing scrutiny and refinement of the Act to ensure it is attuned to the evolving dynamics of the global energy landscape and the specificities of our national context.
“Our committee is thus charged with a mandate of utmost significance: to meticulously review and amend the Act, ensuring it is robust, forward-looking, and reflective of best practices.
“This legislative endeavour will be marked by a commitment to transparency, inclusivity, and sustainability, aiming to create a regulatory environment that catalyses innovation, attracts investment, and secures the long-term viability of our petroleum resources.”
The chairman, while commending the Deputy Chairman, Hon. Oluwaseun Sesi Whingan, for his spirit of partnership, noted that “our extensive dialogues have not only deepened our insights into the oil and gas sector’s current state but have also helped us chart a strategic course through its complex waters, addressing key issues such as security, production efficiency, exploration frontiers, and sustainable industry growth.”
Hon. Doguwa added that in recognising the inter-dependent nature of the committee’s work, its leadership had proactively engaged with the leaderships and administrative officers of the allied petroleum committees, those focusing on Petroleum Resources (Downstream), Petroleum Resources (Midstream), and Petroleum Resources (Gas).
“This strategic collaboration is the cornerstone upon which we will build a cohesive and comprehensive approach to the multifaceted challenges and opportunities within the oil and gas sectors,” he said.
As the committee embarked on the journey, the chairman said he was “buoyed by the knowledge of your expertise, your passion for service, and your dedication to our nation’s welfare.”
Hon. Doguwa said: “The challenges before us are indeed formidable, but they are not insurmountable. With a shared vision and a synergy of efforts, we can and will institute transformative changes that will resonate through the industry and across the fabric of our society.
“Let us march forward with determination and a relentless pursuit of excellence. Together, we are poised to redefine the narrative of our petroleum sector and chart a course towards a future replete with prosperity, stability, and opportunity for all Nigerians.”
