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Oil & Gas Sector Remains Cornerstone Of Nigerian Economy- Doguwa
Chairman, House Committee on Petroleum Resources (Upstream), Hon. Al Hassan Ado-Doguwa has said that oil and gas industry remains the cornerstone of the Nigerian economy that drives growth, innovation and development.
Hon. Ado-Doguwa flanked by his Deputy, Hon. Whingan Sesi (APC-Lagos), stated this in Abuja during a dialogue with the theme: ‘Deepening collaboration between the oil and gas industry and the National Assembly’ Organised by National Association of Petroleum Exploration (NAPE).
Hon. Ado-Doguwa who described the dialogue as “timely and essential to navigate the evolving landscape our nation’s petroleum sector.
Hon. Doguwa who emphasized the importance of robust dialogue noted that House recently organized National Assembly Open week which underscored it’s commitment of transparent engagement with stakeholders.
He described NAPE’s dialogue as proactive strategy to further ensure inclusivity and accountability in the legislative processes.
Hon. Ado-Doguwa assured that the House and Senate joint Committees on Petroleum Resources Upstream have jurisdictions over oil exploration and exploration activities in the sector which he said will foster a strong relationship between the industry and the National Assembly for sustainable progress.
According to him “Parliamentarian have the onus duty to create conducive environment through sound policies and legislations that would enhance efficiency and competitiveness of the vital sector.
“The 10th Assembly’s legislative agenda focuses on several key areas in the Petroleum Industry including economic development, security amd environmental sustainability.
“You are all aware that National Assembly through the PIA has provided structured framework for the oil and gas sector. Our bright priority is to ensure that extraction maximizes resources utilisation while creating job opportunities and share the prosperity for all Nigerians.
“Furthermore, we are committed to environmental justice, ensuring that our activities do not compromise the health and well-being of our communities.”
While undertaking legislative oversight, the former House Majority Leader in the 9th Assembly assured that the PIA which is the supreme legislative framework which governs the oil and gas industry in the country, was not a legislation that was cast on iron, urged the Stakeholders to see it as work in progress.
He stressed that if there many areas requiring amendment in terms of content and context as well as intent, they should not hesitate to bring such grey areas to the attention of the Parliament for further legislative action, with a view to “come up with finest legislative framework to govern oil and gas sector in this country, so that we can also compete along all other global institutions in the oil and gas sector.
“I hope stakeholders will look at the PIA not like an edit, not like the military legislation, it’s not a decree, so it’s just a legislation that always expect contribution from the Stakeholders and let see how we can really fine-tune the effectiveness of the law we make for our people and for the economy.”
On his part, NAPE President, Dr. Abiodun Ogunjobi who harped on some of the challenges bedeviling the industry, highlighted the dwindling production level.
Dr Abiodun said that it is very germane including the land lucksture field development activities in the deep water today.
He noted “Remember in those days we have some government policies that encouraged activities in the deep water but as at today, deep waters are very dominant, very are very domain because of lack of development activities.
“In terms of gas production, we can see low production level of our gas delivery and to say we have never been aggressive targeting gas as an exploration. Most of the gas that we have today are associated gas because there is no deliberate effort to go for non-associated gas.”
He however expressed optimism that the “recent presidential initiative will definitely encourage gas production and exploration in that space.”
On the funding challenges, Dr. Ogunjobi hinted that it has always been there.
He however noted that the country now has the energy Bank – Africa Energy Bank that the headquarters now been confirmed to be situated in Nigeria. So, that will go a long way to support exploration and development activities in the country.
