Ongoing efforts by the Ministry of Petroleum to reform the operations of the oil and gas sector took centre stage recently at the National Assembly when the Minister Mrs. Diezani Allison-Madueke defended the budget of the ministry before a joint hearing of the Senate and House of Representatives Committees on Upstream Petroleum, Downstream Petroleum and Gas. The assertions if carried to the letter may well underpin hopes of a more efficient and effective sector.
THE Africa Network for Environment and Economic Justice, ANEEJ, has described Mallam Nuhu Ribadu-led, Petroleum Revenue Special Task Force, as a cover up, even as industry operator argued that the move will block some revenue leakages in the system.
On January 20, 2012, the Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, set up a Special Task Force on Governance and Controls in NNPC and other Parastatals within her ministry.
Environment instability, particularly with regard to the legal, commercial and regulatory frameworks has been identified as the bane of investments in Nigeria’s upstream oil and gas sector.
In the wake of media reports that workers of the Power Holding Company of Nigeria (PHCN) headquarters in Abuja, were been deployed to various successor companies across the nation, the workers unions and affected staff believed the PHCN has been liquidated.
