Group calls for speedy passage of PIB

The Campaign for Growth in the Nigerian Oil and Gas Industry has called on the National Assembly to speedily debate and pass the 2012 Petroleum Industry Bill into law.
CGNOGI said a speedy passage of the bill will help place the Nigerian oil and gas industry on a modern pedestal and replace the existing laws, which do not adequately reflect global realities.
Beside this, the group said the bill will open a new chapter of development in the nation’s oil and gas industry as it aspires to increase indigenous participation, address underdevelopment of oil bearing communities and safeguard the environment against pollution.
According to Mallam Abubakar Kalto, the Executive Secretary of CGNOGI, the National Assembly is on the edge of writing its name in gold by passing the most significant legislation governing the oil and gas industry.
Kalto said: “The National Assembly is on the threshold of making history by approving this all-important legislation, which has taken several years to draft.
“We cannot allow this opportunity slip through the fingers again.”
The CNOGI boss called on members of the National Assembly to set aside their differences, irrespective of political affiliation, and coalesce effort to pass the bill.
Kalto added: “We wish to call on our legislators to rally together no matter their political party or ideological persuasion to accelerate deliberation on this bill.
“They must not allow differences with the executive arm of government come into play in making the decision about this bill because the interest of Nigeria supersedes any other consideration.”
Kalto said that contrary to claim by some people that western countries were opposed to the bill, the 2012 PIB enjoys support of the international community.
He cited recent comment by Mr. Vincent Cable, the Business Secretary of the United Kingdom, pledging support for the bill as proof.
He said: “The international community has pledged support for the PIB.
“Mr. Vincent Cable’s call for the passage of the PIB, which places the interest of Nigerians above any other consideration, lends credence to the comprehensiveness of this bill and highlights the need for the National Assembly to treat it with urgency.’
The CNGOGI boss said the 2012 PIB reflects the wishes of Nigerians for a reformed and vibrant oil and gas industry, which would guarantee economic growth and prosperity.
He added that the bill would place Nigeria on the path to achieving the target of 40 billion barrels of reserve within the next decade.