By Sebastine & Ediri Ejoh

PRESIDENT Muhammadu Buhari’s government needs to do a lot more to make its impact felt in the oil and gas sector, the mainstay of the nation’s economy, as stakeholders insist that nothing significant has been done in the first 100 days in office. An industry expert, Mr. Sergius Ogun, believes that the President is shying away from the promises made during the campaign days.

Buhari-oil

He said: “The President is running away from any promises made in his first 100 days in office, and I never believed any major milestone will be achieved. “Granted, he came into office at a very difficult time in the industry with the price of oil slipping, I cannot call what is happening in NNPC a reform. I think it is more of a new sheriff in town that is ready to kick back ends, People were retired, not dismissed and charged for any offence.”

Ogun said he had expected the new Group Managing Director, GMD, of the Nigerian National Petroleum Corporation to ensure he worked with the National Assembly to pass the Petroleum Industry Bill, PIB, within six months.

“I would have thought that the first assignment of the new GMD would be to ensure he works with the National Assembly to pass the PIB under six months. We already have two versions of the bill, the one submitted to the 6th Assembly and the one submitted to the 7th Assembly. He is not drafting a new bill from the scratch.

“Those of us in the industry pretty much know what government wants to achieve with the bill. There was enough consultation on this bill with the stakeholders in the industry in the past. Little work needs to be done on this third one to the 8th Assembly. I will score the government very low on this, as there has been no new investment by the traditional old oil companies that stayed back because of their huge investments here while the new ones sold off and left. Where is the much needed gas for the NIPP projects going to coming from? What of employment for our youths? Having said all that, I really do wish the President well, as I do not cease to pray for him for the sake of all of us (Nigerians),” he added.

Similarly, a former Senate Committee Chairman on Petroleum Resources, Senator Lee Maeba, said the President had wasted 100 days in office. According to him, “Anybody who wants to work will work. President Buhari has wasted about 100 days plus 90 days since March, when he won the election. We should have seen things on ground by now. I expected that he should have hit the ground running from day one.”

Also, the President, National Union of Petroleum and Natural Gas Workers, NUPENG, Comrade Igwe Achese, believes that whatever impact being felt now was from a foundation laid by former President Goodluck Jonathan.

He said: “There is no impact yet. What we are seeing now is the impact of former President Goodluck Jonathan’s government. There is nothing yet to show for the change. Some oil companies are still leaving the country. We are still losing workers. We hope that change will come fast to the benefit of all Nigerians.”

Oil and politics

The Managing Director, Gacmork Nigeria Limited, an oil services company Mr. Alex Neyi, urged that “The petroleum industry should be kept off politics. Moreover, the government must consult relevant stakeholders and also create a team and enlighten them on the challenges of the industry, encourage them to put their heads together and proffer solutions.

“Consultants could come from the universities, consulting firms, or any credible source. Even if it is from the major companies, they should take the people that are relevant and it’s easy to pick them because the oil market is very small and we all know ourselves and capabilities,” he said.

Erstwhile Former Managing Director, Niger Delta Development Commission, NDDC, and Chairman, Gladson Petrogas Limited, Mr. Godwin Omene, wants the government to focus on gas utilisation, which he said is key to unlocking the country’s potential and incentivise operators into developing marginal fields.

“The government as a matter of urgency needs to incentivise oil operators to be able to develop the country’s idle oil blocks and marginal fields, gradually phase out gas flaring by proper discussions with the operators with budgetary provisions.

“Also, the government should complete the Train 7 of NLNG as a matter of urgency, encourage the states and homes to utilise gas as it is cheaper and more environmentally friendly. Also, the PIB should be passed in phases. The National Assembly should be utilised to address the phases in committees to be supervised by the Senate President and the Speaker of the House of Representatives.

“On gas development, the government should grant gas development incentives. This involves granting of tax and royalty holidays and later reduction,” he said.