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Buhari seeks amendment to Petroleum Industry Act, writes Senate

Nigerian President, Muhammadu Buhari, has sought amendment to certain provisions of the controversial Petroleum Industry Act (PIA).

The President's request principally was on the need to review the administrative structure of the Upstream Regulatory Commission and the Nigerian Midstream and Downstream Petroleum Regulatory Authority.

He therefore seeks the approval of the Senate to increase the numbers of the non-executive board members of each of the regulatory agencies from two to six, so as to capture the six geopolitical zones.

The President stated,"The Petroleum Industry Act 2021 provided for the appointment of two non executive members for the board of the two regulatory institutions. I am of the view that this membership limitation has not addressed the principle of balanced geopolitical representation of the country.

"Therefore, I pray for the intervention of the 9th Assembly to correct this oversight in the interest of our national unity. Needless to add that this amendment will provide a sense of participation and inclusion to almost ever section of the country in decision making of strategic institutions such as oil industry.

"If this amendment is approved, it will now increase the number of the non executive members from two to six, that is one person from each of the six geopolitical zones of the country".

President Buhari also removed both Ministers of Petroleum Resources and Finance from the board the board of the two agencies, stating that the two ministers already already have constitutional responsibilities of inter- governmental relations or supervision.

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9th Assembly Buhari Nigerian Petroleum Industry Act Senate


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