The Nigerian Senate’s Committee on Petroleum Resources (Upstream) has stated that it is fully committed towards ensuring the policies of the Petroleum Industry Act are fully complied with especially with the activities related to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The Chairman of the Committee, Sen. Albert Bassey, disclosed this on Wednesday in Abuja in a meeting with the NUPRC, according to the News Agency of Nigeria.
He added that the NUPRC board is to play a role with the PIA direction and come up with enabling its implementation.
What the Senate committee is saying
Speaking on the matter, Senator Bassey said, “What the law stipulates for the commission is to be independent to build confidence in the hearts and minds of investors.
“We have not had the privilege of coming out in the past 18 months because all hands were on deck towards processing and passage of the PIA. Kudos to President Muhammadu Buhari for signing the bill into law.
“We are still engaging relevant stakeholders, the President has sent in the first amendment request of the act, we are looking into that and will be on public hearing soon.”
He added that engagement with the NUPRC board on policy direction would be the norm, as they are meant to enable the senate committee on the implementation of the act.
The Commission Chief Executive (CCE), Mr Gbenga Komolafe, said he recognises the responsibility as enacted by the Senate and are very keen on making tremendous impact in Nigeria’s upstream regulatory functions to achieve an intendment of the PIA and meet expectations of the assembly and international community.
“We continually seek adequate support of the committee to work assiduously in carrying out our enormous tasks which include monitoring of crude oil theft and sabotage among others, to make impacts and achieve efficient upstream regulations,” he said.
In case you missed it
Recall Nairametrics reported earlier that Group Managing Director/Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Malam Mele Kyari, said that the Petroleum Industry Act (PIA) has provided the organization with the opportunity to shed some of its toxic liabilities.
Group Managing Director/Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Malam Mele Kyari, has said that the Petroleum Industry Act (PIA) has provided the organization with the opportunity to shed some of its toxic liabilities.
