States set up committee to study, amend PIA

Written by on August 24, 2021

The 36 states of the federation have set up a six-man committee on the Petroleum Industry Act (PIA) with a mandate to study and draw up amendments to the law.
The Chairman of Forum of Commissioners of Finance and Benue State Commissioner for Finance, David Olofu, who disclosed this in an interview with one of our correspondents on Monday, stated that the forum would submit proposed amendments to the Act to the steering committee on the PIA set up by the President, Muhammadu Buhari, GCFR.
It would be recalled that the Petroleum Industry Act, which was signed into law by the President last week, has attracted criticisms from some stakeholders, especially state governors and the oil-bearing communities.
While the host communities faulted the three per cent allocated to them, the Nigeria Governors’ Forum (NGF) stated that the law was against the interest of the states.
The NGF Chairman and Ekiti State Governor, Dr Kayode Fayemi, had in an interview last Thursday expressed concern over 30 per cent allocation for frontier exploration and the three per cent for the host communities in the PIA.
Olofu, who had on Wednesday told newsmen that state governments would discuss the PIA at the Federation Accounts Allocation Committee (FAAC) meeting, on Monday confirmed that a six-man committee headed by the Delta State Commissioner for Finance, Fidelis Tilije, was set up by the forum of finance commissioners, which met after the FAAC meeting on Friday.
According to him, other members of the committee are the Osun State Commissioner for Finance, Bola Oyebamiji; his Imo State counterpart, Dr Doris Anite; Dr Regina Boniface (Plateau State); Lawan Adamu (Borno State); while Babangida Umar (Jigawa State), would serve as the secretary.
Olofu, who stated that the committee members were picked from every geopolitical zone of the country, disclosed that the panel would look into the grey areas in the Act.
He said the forum agreed that there were grey areas in the PIA, which did not take into consideration the interest of the states.
The forum chairman said that the committee would make recommendations, which would be submitted to the implementation committee, for possible amendment of the Act.
Olofu, who expressed optimism that the implementation committee would do a thorough job at the end of the day, said it was important that governors were members of the implementation committee.

Source: PUNCH

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