• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
  • Security
  • Features
  • State
  • Event
  • E-Book
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
  • Security
  • Features
  • State
  • Event
  • E-Book

    COVID -19: CISLAC for Reform of Nigeria’s Oil Sector

    By
    Auwal Ibrahim Musa
    -
    April 24, 2020
    CISLAC Musa Rafsanjani
    CISLAC Musa Rafsanjani

    COVID -19: CISLAC for Reform of Nigeria’s Oil Sector

    Civil Society Legislative Advocacy Centre (CISLAC)/ Transparency International Nigeria, a long-standing Civil Society engaging the Extractive sector is calling on the administrators of the oil and gas sector in Nigeria to take a more decisive action in a bid to reform the sector.

    Since Nigeria started exploration in the oil and gas sector, we have experienced a plethora of notable commitments and pronouncement from the successive leadership of the relevant institutions governing the oil and gas sector in Nigeria focusing on the sector’s transparency, accountability, inclusive development, sustainable governance, management of refineries and issues of deregulation/liberalization of the sector.

    We note that there are several reports on activities of the sector – including commissioned inquiries, audits and investigations that have stressed transparency and accountability as crucial elements behind the inefficiency and corruption in the sector. These accountability issues are responsible for the hemorrhage on revenue flows and oil production that have earned Nigeria’s oil sector a not-too-favorable reputation both locally and internationally. We commend the monthly reportage of the Corporation’s transactions as a welcome development which is contributing to improving the image of the Corporation and the global rating of Nigeria’s oil sector.

    On the wake of April 8, 2020, we were met with a press statement signed by Dr. Kennie Obateru -Group General Manager, Group Public Affairs Division of the Nigerian National Petroleum Corporation announcing the removal of subsidy in the petroleum products and also the decision for NNPC to hand over refinery management to an independent body.

    This also have been reiterated by the GMD, of NNPC on several media appearances stressing the same issue.

    We think that this is a step in the right direction considering the current hemorrhage occurring in the sector through the subsidy/under recovery regime and the running of the refineries.

    Read Also:

    • Army Dislodges Bandits in Taraba Forests Under Operation Lafiya Nakowa
    • How Irabor’s Book Launch Became National Security Summit as Obasanjo, Jonathan, Kukah, Sultan Spoke on Boko Haram
    • Nigerian Army Denies Losing Weapons to Bandits in Kwara Operation

    On the other hand, we are worried about the position of both the substantive Minister for Petroleum Resources and Minister of state who have neither made any pronouncement on this issue since it was released to the public by the NNPC leadership. Hence, some pertinent questions need to be raised and answered:
    i) on which law is this pronouncement made enforceable since the Petroleum Industries’ Bill (PIB) is not in-sight anytime soon;
    ii) what is the implementation plan to implement this detailing how the effects will be cushioned by the government to avoid acute negative effect on the citizens and impending push back;
    iii) who else is consulted on this decision so that prevent unilateral decision which is going to be refuted by other administrative stakeholders in the sector and makes it un-implementable?

    We thereby call on the Presidency, the National Assembly and the Ministry of Petroleum Resources to wade into this issue and provide more clarity on this very crucial decision at this critical stage in our Nation’s economy which is still as at now largely dependent upon this sector.

    Take the COVID-19 pandemic and its effect on the oil price in the world as an imperative for the need to diversify the nation’s economy and invest in other sectors which provide added larger added value and more disposable revenues to the underemployed and vulnerable like agriculture, technology, etc.

    This is a wakeup call for all Nigerians to fight against the frivolous waste in the governance process. The continuous mismanagement and corruption of the extractive sector is eroding substantial investments in sustainable development. It is high time that the Presidency and the Legislature to implement a substantive cut in the cost of governance and channel these funds to sustainable development projects, which would benefit the poor as opposed to the elite, which is a disproportionate recipient of Nigeria’s common wealth. In times of crisis, projects that have no economic benefits should be terminated. Proper cost-benefit analysis before engaging in any project is the only way to reduce inefficiency and promote value for money.

    God bless Nigeria
    Signed:
    Auwal Ibrahim Musa( Rafsanjani)
    Executive Director – CISLAC

    VISIT OUR OTHER WEBSITES
    PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
    EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
    HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
    ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
    • TAGS
    • CISLAC
    • Covid-19
    • Ministry of Petroleum Resources
    • National Assembly
    • NNPC
    • PIB
    Previous articleFCT Police Command Arraigns 1,909, convicts 1,736 over Lockdown Breach
    Next articleCOVID-19: NAF Gets Aircraft for Aeromedical, Army Receives Oxygen concentrators
    Auwal Ibrahim Musa
    Auwal Ibrahim Musa
    http://www.PRNigeria.com

    RELATED ARTICLESMORE FROM AUTHOR

    How Irabor’s Book Launch Became National Security Summit as Obasanjo, Jonathan, Kukah, Sultan Spoke on Boko Haram

    GWA Award Winners 2025

    PHOTOS: Nigeria Customs, IMPR Bag Back-to-Back Golden World Award at IPRA 70th Anniversary

    Customs, NCC Strengthen Alliance on Device Monitoring, Security, Public Safety

    EFCC Arrests 42 Suspected Internet Fraudsters, Recovers Laptops, Phones in Yobe

    Military Foils Terrorist Attacks, Rescues Victims, Dismantles Hideouts in Sokoto, Kebbi

    ICPC

    ICPC Rises to 3rd Place in Transparency Index, Records Historic Leap in Integrity Score

    Nigeria and the Genocide Lie That Refuses to Die By Kabir Abdulsalam

    FULL TEXT INDEPENDENCE SPEECH: Tinubu Hails Nigeria’s Progress at 65 Tinubu, Lists Achievements, Promises Brighter Future

    President Bola Ahmed Tinubu

    Nigeria @ 65: Tinubu Hails Armed Forces, Claims Victory Over Boko Haram, IPOB, Bandits

    Bayo Onanuga: Between Bolekaja Publicity and Public Relations

    Nigeria at 65: Tinubu Lists 12 Economic Gains of His Reforms

    Governor Abba Kabir Yusuf, Kano State

    Gov Yusuf Launches N800m Youth Empowerment Scheme in Kano

    Recent Posts

    • Army Dislodges Bandits in Taraba Forests Under Operation Lafiya Nakowa
    • How Irabor’s Book Launch Became National Security Summit as Obasanjo, Jonathan, Kukah, Sultan Spoke on Boko Haram
    • Nigerian Army Denies Losing Weapons to Bandits in Kwara Operation
    • Uba Sani Releases ₦2.3bn for Retirees and Families of Deceased Workers
    • Group Urges CBN to Scrap 2% Service Charge on Hajj Fare to Reduce Pilgrimage Cost
    • Home
    • About
    • Adverts
    • Contact
    © 2020 PRNigeria. All Rights Reserved.
    Latest News
    Army Dislodges Bandits in Taraba Forests Under Operation Lafiya NakowaHow Irabor's Book Launch Became National Security Summit as Obasanjo, Jonathan, Kukah, Sultan Spoke on Boko HaramNigerian Army Denies Losing Weapons to Bandits in Kwara OperationUba Sani Releases ₦2.3bn for Retirees and Families of Deceased WorkersGroup Urges CBN to Scrap 2% Service Charge on Hajj Fare to Reduce Pilgrimage CostNDLEA Dismantles Cocaine Cartels Behind UK Shipments, Arrests Suspects, Destroys 25,000kg Skunk NationwideKano Gov't Investigates Alleged Diversion of N4bn Dala Inland Dry Port FundsACF Warns of Alleged Plot to Cripple Dangote Refinery, Urges FG InterventionTroops Neutralise Terrorists, Repel Boko Haram Attack in BornoPHOTOS: Nigeria Customs, IMPR Bag Back-to-Back Golden World Award at IPRA 70th AnniversaryTroops Nab Terrorists’ Logistics, Drug Suppliers in BornoS/Arabia-Trained Graduates to Begin Forum on Sustainable DevelopmentChristian Genocide and the Conspiracy against Nigeria By Femi Fani-KayodeWe Arrested 450 Terrorists, Rescued 180 Abducted Victims in One Month - MilitaryOver 100 Jerrycans of Petrol Seized as Police Foil Smuggling to Niger Republic
    X whatsapp