House Panel Harps On Review Of Petroleum Industry Act

House of Representatives committee on Petroleum Resources (Upstream) has called for the scrutiny and refinement of the Petroleum Industry Act (PIA) to make it attuned to the evolving dynamics of the global energy landscape and the specificities of the nation‘s context.

The committee‘s chairman, Hon. Alhassan Ado-Doguwa stated this during the inaugural meeting of the panel at the National Assembly Complex in Abuja on Tuesday.

Doguwa said, the enactment of the PIA by the 9th Assembly was a watershed moment, signaling a new dawn of reform intended to revitalise an industry that is the lifeblood of our economy.

The lawmaker however, observed that the true measure of legislation is not in its passage but in its execution and adaptability.

It is with this understanding that we acknowledge the need for ongoing scrutiny and refinement of the Act to ensure it is attuned to the evolving dynamics of the global energy landscape and the specificities of our national context.

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Our committee is thus charged with a mandate of utmost significance: to meticulously review and amend the Act, ensuring it is robust, forward-looking, and reflective of best practices.

This legislative endeavour will be marked by a commitment to transparency, inclusivity, and sustainability, aiming to create a regulatory environment that catalyzes innovation, attracts investment, and secures the long-term viability of our petroleum resources.

As we embark on this journey, I am buoyed by the knowledge of your expertise, your passion for service, and your dedication to our nation‘s welfare. The challenges before us are indeed formidable, but they are not insurmountable.

With a shared vision and a synergy of efforts, we can and will institute transformative changes that will resonate through the industry and across the fabric of our society,“ he said.