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Inefficient Systems, Outdated Regulations Stifle Petroleum Sector Growth – Speaker Abbas

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….as lawmakers deliberate on Petroleum sector regulations
By Gloria Ikibah
The Speaker of the House of Representatives has said the petroleum sector has always been impeded by inefficiencies and outdated regulatory frameworks.
Speaker Abbas stated this at a one-Day retreat on “Legislative Measures Towards the Realisation of the Mandate of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for members of the House Committees Gas Resources, Petroleum Resources (Downstream, Upstream and Midstream) on Monday in Abuja.
Naijablitznews.com reports that this critical workshop is aimed at enhancing lawmakers’ understanding of the petroleum sector and equipping them with the necessary legislative tools to support the NUPRC.
The workshop was designed to deepen the understanding of the NUPRC’s operations, the legal framework governing its activities, and the broader dynamics of the petroleum industry.
According to Abbas, this initiative is part of efforts to ensure effective oversight and accountability in the sector.
He said the petroleum sector has long been the backbone of Nigeria’s economy, contributing substantially to the nation’s GDP and serves as the primary source of foreign exchange earnings.
Abbas stated that the National Assembly has played a critical role in driving these reforms, from legislative enactments to oversight, ensuring the sector’s sustainability and effectiveness, adding that there is a need for continued support for the NUPRC and other stakeholders in achieving the full benefits of these reforms for all Nigerians.
He said: Legislative oversight is a cornerstone of democracy and good governance, adding that  the Petroleum Industry Act underscores the importance of parliamentary scrutiny in ensuring accountability within the oil and gas sector.
“The petroleum sector has long been the backbone of Nigeria’s economy, contributing substantially to our GDP and serving as the primary source of foreign exchange earnings. However, its potential has often been hindered by inefficiencies and outdated regulatory frameworks.
“The enactment of the Petroleum Industry Act (PIA) 2021 marked a significant turning point, introducing reforms that have redefined the governance, operations, and transparency of the oil and gas industry
“It provides a robust framework for oversight, empowering the National Assembly to monitor the operations of regulatory agencies like the NUPRC.
“The enactment of the Petroleum Industry Act (PIA) 2021 marked a significant turning point, introducing reforms that have redefined the governance, operations, and transparency of the oil and gas industry.
“Central to this transformation is the NUPRC, which was established to regulate the upstream petroleum sector. Its mandates, as outlined in Section 94 of the PIA, include ensuring transparency, accountability, and sustainable resource management.
“Some immediate gains include improved regulatory clarity, increased investor confidence, and a structured approach to addressing environmental and community issues. However, challenges remain, including the need for further infrastructural development, capacity building, and the full implementation of the PIA’s provisions.
“However, effective oversight is not without challenges. The technical complexity of the extractive industry, information asymmetry, and the ever-evolving nature of the sector can limit the ability of parliamentarians to perform their duties effectively.
“To overcome these obstacles, members must develop technical expertise, engage in continuous learning, and foster collaborative relationships with stakeholders”.
Soeaker Abbas noted that it is all important to fully utilise all oversight tools at our disposal, including inspections, public hearings, investigations, and interpellations. Effective engagement between legislative committees and the NUPRC is critical to avoiding unnecessary conflicts or repetitive invitations.
“By fostering open communication and mutual understanding, we can create a more productive working relationship.
To this end, I urge the committees to adopt a strategic approach that prioritises constructive dialogue and aligns legislative priorities with the operational realities of the NUPRC. Regular updates, joint assessments, and targeted inquiries can streamline oversight processes and improve outcomes”, he added.
Naijablitznews.com reports that the NUPRC was established to regulate the upstream petroleum sector, plays a critical role in ensuring transparency, accountability, and sustainable resource management.
The workshop is expected to foster a more productive working relationship between legislative committees and the NUPRC, ultimately ensuring that the upstream petroleum sector serves the interests of all Nigerians, promotes sustainable practices, and remains globally competitive.

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Wike tackles Amaechi: Account for $39m Hospital, N68bn Monorail, N10bn anti-malaria fumigation

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… FCT Minister challenges ex-Rivers governor over stalled projects, 24-year public record

… Questions N10bn anti-malaria fumigation spending, electoral claims

… Says political leadership should empower, not pull others down

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has fired back at former Rivers State Governor Rotimi Amaechi, challenging him to account for major projects and expenditures incurred during his administration.

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Wike made the statements on Saturday, during a visit to the Uzugbani Ekpeye National Executive Council at Ekpeye House in Ahoada, Ahoada East Local Government Area of Rivers State.

Wike, who spoke on Saturday during an interactive meeting with the Uzugbani Ekpeye National Executive Council as well as leaders and stakeholders of Ahoada East and West Local Governments, Rivers State at the Ekpeye House in Ahoada, was reacting to Amaechi’s appearance on Channels Television’s Politics Today on Friday evening.

Amaechi, a former governor and Minister of Transportation, had criticised the Federal Government over its record of project delivery and challenged the administration to name major projects it had completed.

But Wike turned the spotlight on his predecessor’s record in Rivers, questioning what became of several projects initiated under Amaechi.

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He specifically raised questions over the $39 million reportedly paid for the Justice Adolphus Karibi-Whyte Specialist Hospital, the N68 billion monorail project and about N10 billion allegedly spent on an anti-malaria fumigation programme.

Wike asked what became of the money committed to the hospital project after the facility was not completed.

The controversy over the hospital dates back to the Amaechi administration.

A Rivers State judicial commission set up under Wike had investigated the payment of $39.2 million to a contractor for the project and its failure to materialise.

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Wike also questioned the fate of the monorail project, which was among the major infrastructure schemes initiated by the Amaechi administration, as well as the expenditure on the fumigation programme.

He went further to criticize a $10 million malaria control project that was executed with Cuba to eradicate mosquitoes in the state, dismissing the initiative as a scam.

“Ask him about the fumigation of Rivers State with people from Cuba in which $10 million was spent. Ask him whether mosquitoes have stopped biting us in Rivers State,” he said.

The FCT Minister said such issues should be considered when assessing the records of political leaders seeking higher office.

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Wike also challenged Amaechi’s record after spending eight years each as Speaker of the Rivers State House of Assembly, governor and Minister of Transportation.

“Someone was Speaker of the House of Assembly for eight years, Governor for eight years, and Minister for eight years, that is 24 years in top leadership positions. What can anybody point to that he attracted to Ekpeye Land in all those 24 years? Nothing! Not one single thing!” he said.

The minister urged the people of Ahoada East and West Local Governments to demand evidence of projects and political empowerment allegedly attracted to the area during Amaechi’s years in public office.

Wike said leadership should not be measured only by the offices occupied but by the people empowered, projects delivered and structures left behind.

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He contrasted this with what he described as his own efforts to empower people and develop political successors, saying leaders should not deliberately prevent others from rising.

Wike also criticised what he described as the use of personal and family tragedies for political purposes.

He said political disagreements should not descend into the exploitation of private grief, particularly matters surrounding the death of family members.

The minister warned against a political culture in which personal tragedies are deployed to gain sympathy or attack opponents.

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Wike further challenged claims about Amaechi’s political influence in Rivers State, asking supporters to examine his electoral record.

“Since I left him in 2011, after 2011, mention one election that he has ever won in Rivers State,” he said.

The minister also recalled their political relationship and past disagreements, including controversies surrounding appointments and business interests involving federal maritime agencies.

He contrasted what he described as Amaechi’s approach with the Tinubu administration’s establishment of regional development structures and appointments involving people from the South-South.

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His latest comments deepen the long-running political feud between the two former Rivers leaders, who once worked together before becoming major political rivals.

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Wike opens can of worms, queries Amaechi over what happened to $39m Justice Karibi-Whyte hospital, others (Video)

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The Minister of the Federal Capital Territory FCT Nyesom Wike has queried, Rotimi Amaechi over what happened to $39million Justice Karibi-Whyte hospital, N68billion Monorail, N10billion anti-malaria fumigation projects.

The minister made this disclosure during his visit to Ekpeye Kingdom Ekpeye House, in Ahoada, Ahoada East Local Government of Rivers State on Saturday.

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Grand reception for FCT minister Wike at Ekpeye Kingdom on a visit to Uzugbani NEC, in Ahoada LGA today (VIDEO)

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A video showing the grand reception for FCT minister Nyesom Wike as he arrives at Ekpeye Kingdom for a visit to the Uzugbani Ekpeye National Executive Council, Ekpeye House, in Ahoada, Ahoada East Local Government of Rivers State today.

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