Delay in PIB passage threatening oil industry, says Okowa

Ifeanyi Okowa, governor of Delta state, says delay in the passage of the petroleum industry bill (PIB) is a threat to the oil and gas sector.

The governor said this on Monday when the national assembly joint committee on PIB led by Mohammed Monguno, its chairman, paid him a courtesy visit at the government house in Asaba.

NAN reports that Okowa said the bill, when passed, would rejuvenate investment in the petroleum industry.

“We are gladdened as people from the Niger Delta to hear both leaderships of the national assembly speak about their commitment towards passing the PIB,” he said.

“If you are able to achieve it, your name will be written in gold, because for too long, we have been talking about this bill and we are already endangering the oil industry.

“People are agitated about the direction of PIB and when anticipation and action are not clearly taken, it leads to loss of investment opportunities, because people are worried about the direction of the industry.”

Expressing joy at the inclusion of host communities fund in the PIB, the governor said it would enable individuals to become part-owners of the ventures and encourage them to secure oil facilities.

He added that it would help them to live a sustainable life.

On his part, Monguno said the committee was in Delta in furtherance of the legislative processes that would eventually lead to the passage of the bill.

“We have promised Nigerians that by the end of April, we will pass this all-important bill,” he said.

“We are committed this time around to the passage of the bill, for the good of Nigeria.

“There is the need for us, as a country, to reform the oil and gas sector, especially as the world is moving away from fossil fuel to renewable energy.”

Femi Gbajabiamila, speaker of the house of representatives, had said the lower legislative chamber will pass the PIB in April.