PIA: Reps, stakeholders brainstorm on implementation analysis, 5 years after

The House of Representatives has partnered vital stakeholders within the oil and oil fuel sector to judge the implementation of the Petroleum Industry Act (PIA) in its 5 years of existence.

The three-day stakeholders’ summit which commenced on Monday in Abuja was organised by the workplace of the Speaker, Tajudeen Abbas, in collaboration with 3 Streams Synergy Limited, with the theme; “Evaluating NNPC Limited’s Transformation Under the PIA.”

The Speaker, represented by the bulk chief, Prof Julius Ihonvbere, in a keynote deal with mentioned the PIA was not merely to determine new establishments or change current regulatory preparations, however to create a extra clear, commercially viable, accountable and investment-friendly petroleum sector.

“Five years down the line, the central question is how much of that promise we have translated into practice,” the speaker requested, including nevertheless, that “the passage of a reform law is not the same as the successful implementation of that reform.”

Earlier in her welcome remarks, CEO of three Streams Synergy, Doyin Adelabu, mentioned 5 years after the PIA turned legislation, the time is correct to take inventory.

She added that the session will attempt reply questions like; “how far has NNPC Limited come in its corporate governance and accountability? How can legislative oversight and collaboration be strengthened to support the reform? And what must every stakeholder do to close the gaps that remain?”