NEITI points out ‘fundamental error’ in PIGB

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The Nigeria Extractive Industries Transparency Initiative (NEITI) has alleged a fundamental error in the Petroleum Industry Governance Bill (PIGB) passed by the Senate, The Nation reports.

The bill, the NEITI said, should be specific on operations of the industry as guided by the principles of the Extractive Industry Transparency Initiative (EITI), which Nigeria signed into. Its Director of Communications, Ogbonnaya Orji, said a quick review of the bill showed there was no specific provision that the NEITI principles are enshrined in the governance process, adding it is a fundamental error that needed to be corrected.

“We have already seen that the former Petroleum Industry Bill (PIB) specifically provided that all the processes in the oil and gas sector should be guided by the principle of extractive industry transparency initiative. We have not seen this provided in the PIGB and the House of Representatives needs to correct that,” he stated.