The President of the Women in Energy Network (WEIN), Mrs Funmi Ogbue, announced on Monday that the delaying 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, according to NAN. She said, “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 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.
Financial Autonomy: Governors, State Speakers reach agreement
The Governor also said that the final document of the agreement should be ready for implementation by May 2021.
The Governors’ Forum, Conference of Speakers of State Legislature and other governance stakeholders announced that they reached a resolution over the implementation of financial autonomy for State Legislature and Judiciary.
This was disclosed by the Ekiti State Governor and Chairman Nigeria Governors’ Forum, Kayode Fayemi, after the meeting, which was held in Abuja on Monday, and presided by the Chief of Staff to the President, Prof. Ibrahim Gambari.
What the Governor said
“We are here for legislative and judicial autonomy and Governors; Speakers of State Assemblies and the Judges of the States are on the same page as far as this issue is concerned,” he said.
We just emerged from a meeting with the Solicitor General of the Federation, the representatives of the judiciary and those of the Conference of Speakers and we are all in force; an agreement has been reached.
The issue is about implementation. There has been no objection from governors on judicial and legislative autonomy.
As a matter of fact, it would not have passed if governors were not in support in the first instance. So, that issue has been fully and holistically addressed,” Fayemi said.
The Governor also said that the final document of the agreement should be ready for implementation by May 2021 and urged striking workers to return to offices “because as far as this has gone, we have met with all the parties concerned and the President, through his Chief of Staff, has been monitoring what has been happening.”
What you should know
Nairametrics reported earlier this month that members of the Judiciary Staff Union of Nigeria (JUSUN) went on strike with the closure of Federal High Courts in different states across the nation. The union said the purpose of the strike was to draw attention to the financial autonomy of Nigeria’s Judiciary.
Finance Minister tasks FG and state governments to control spending
The Minister also denied claims that the FG printed N60 billion as top-up for March FAAC numbers.
The Minister of Finance, Zainab Ahmed, has called on Governments on all levels in Nigeria to control spending amid decreasing revenues and urged for prudent government spending. The Minister also denied claims that the Federal Government printed N60 billion as top-up for March FAAC numbers.
The Minister disclosed this in an interview on Monday and warned that the FG was not generating enough revenue to align with its spending habit.
Zainab Ahmed added that the FG would maintain its stance from January 2021 to end total fuel subsidies in Nigeria, and confirmed talks with organised labour on subsidy removal.
“As a nation, the Federal, State and Local governments must review expenditure patterns. We are spending too much and we are not generating enough,” she said.
What you should know
Nairametrics reported last month that the Debt Management Office had announced that Nigeria’s public debt at end of 2020 was N32.915 trillion. The DMO said the sum of the debt included the Debt Stock of the Federal and State Governments, as well as the Federal Capital Territory.
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