PIA implementation, operationalization of its objectives: Reps caucus pledges support to Tinubu, Kyari

“The PIA is the best thing to happen to Nigeria’s oil sector and one of the numerous reforms birthed by Kyari”

Some federal lawmakers under the auspices of the House of Representatives Caucus has expressed support for a holistic implementation of the Petroleum Industry Act 202 and the operationalization of its objectives, commending the Group CEO of Nigerian National Petroleum Company Limited (NNPCL), Malam Mele Kyari, for the Act.

They expressed the conviction that PIA has the potential to impact Nigerians positively, facilitating economic development by attracting and creating investment opportunities for local and international investors.

The caucus comprising about 50 lawmakers drawn from across the country, said they were ready to help the President Bola Tinubu administration achieve a seamless implementation of fuel subsidy removal and other aspects of the PIA.

Addressing newsmen in Abuja, the caucus which identified themselves as “the Friends of the Masses, said the PIA is the most audacious attempt to overhaul the nation’s petroleum sector and commended the Group Chief Executive Officer of the Nigeria National Petroleum Company Limited (NNPCL), Makam Mele Kyari.

According to Rep. Seso Ikpagher (Benue APC), the PIA is the best thing to happen to Nigeria’s oil sector and one of the numerous reforms birthed by Kyari.

“The Petroleum Industry Act 2021 is the most audacious attempt to overhaul the petroleum sector once bedeviled by controversies and uncertainties,” he said, pointing out that PIA implementation and operationalization of its objectives remains a cause for serious concerns.

While admitting that the expected gains of the Petroleum Industry Act have not been fully actualized, he expressed optimism that with Kyari, Nigerians can be hopeful and pledged to give the NNPCL boss all the necessary support to succeed.

Meanwhile, Rep. Iyawe Esosa (Edo, LP) has described Kyari as the game-changer in the oil and gas sector not just in Nigeria but in the continent.

Esosa said the NNPCL GCEO came at a turbulent period characterized by low production, burgeoning vandalization of oil pipelines, oil theft on a grand scale, and demoralized staff of the company.

He said: “Just a little over three years later, he said the story is different. The signing of the PIA by former President Muhammadu Buhari was perhaps the biggest breakthrough for Kyari as it opened the door for more significant changes in the national oil giant.

“We can’t forget how he worked for the passage of the PIA. Today, we have a new, refreshed, and rejuvenated NNPC. He has gone a step further to initiate new investment benchmarks to further rejuvenate the once-ineffective company.

“Nigeria’s oil and gas industry is now on a transformative path, unlocking opportunities for growth and prosperity in the sector. The end of the fraudulent subsidy regime was another milestone.

“Under the leadership of Kyari, the company has taken significant steps towards enhancing transparency and accountability in the industry. One of the ways he has done this is by publishing monthly financial and operational reports.”

Esosa added: “For Kyari, it is about the country. And together with other distinguished colleagues, we have vowed to support him in breaking new grounds and achieving more”.