Chairman of NUPENG and PENGASSAN Petroleum Industry Bill Committee, CJIKA ONUEGBU, described the passage of the non-executive bill as a milestone achievement.
ONUEGBU noted that while the PIGB has been pending before the National Assembly, Nigeria lost over two hundred and thirty-five billion dollars.
He said NUPENG and PENGASSAN were looking forward to the concurrent passage of the PIGB by the House of Representatives and eventual accent by the President.
However; ONUEGBU noted that the PIGB only deals with the one aspect of the original Petroleum Industry Bill, which deals with governance and institutional framework of the Nigerian petroleum industry.
He said the oil and gas unions look forward to the consideration and passage of The Petroleum Fiscal Framework Bill; The Petroleum Industry Downstream Administration Bill; The Petroleum Industry Revenue Management Framework Bill and the Petroleum Host Community Bill.
The former Chairman of the Trade Union Congress in Rivers State noted that the PIGB alone would not deliver the full benefits of the intended reforms in the oil and gas sector.
