Buhari Seeks Amendment Of Petroleum Industry Act, Writes Senate

By Ayodele Oni

President Muhammadu Buhari has sought the approval of the Senate to amend the recently passed Petroleum Industry Act, (PIA).

The PIA, which has received both applauds and condemnations was recently signed into law and only just last week, the President named members fort the board of the Nigerian National Petroleum Corporation, (NNPC).

It was announced at the Senate on Tuesday that a proposed amendment to the Administrative Structure of the Petroleum industry Act 2021, has been received from President Muhammadu  Buhari for its Consideration and approval.

The proposed amendment was communicated through a letter addressed to the President of the Senate, Ahmed Lawan and read on the floor of the parliament .

According to the letter, “The amendment intends to change the appointment of two non executive Board members to accommodate more members  in line with the principle of a balanced geopolitical representation of the country.

“President Buhari believes this change will provide a sense of participation and inclusion in every section of the country in the decision making of strategic institutions in the oil industry.

“This proposal will also  increase the membership of the board from nine to thirteen which represents a 44% expansion.

“It will also remove  the ministries of Petroleum and Finance from the Board of the two institutions, as well as exempt serving public officers from the established confirmation process for political appointments.

“Mr President believes these amendments will lay sound administrative structures governed by simple operational laws that will ensure a smooth take off and growth of the institutions.”