By Omeiza Ajayi

ABUJA—PETROLEUM industry experts and the Civil Society Legislative Advocacy Centre, CISLAC, have tasked President Muhammadu Buhari to rise above the foibles of partisan and economic interests to sign the Petroleum Industry Governance Bill,PIGB,  saying that will be a major test of his integrity.

At a one-day media clinic in Abuja on the need for presidential assent to the bill, Executive Director, CISLAC, Auwal Ibrahim Musa recalled how the current Buhari administration had during the electioneering campaigns in 2015, promised passage of the bill into law, if voted into power.

Nigeria’s President Muhammadu Buhari

“The executive and NASS at the highest levels have reiterated this promise severally. At the resumption from recess of each chamber, the bill is placed on the agenda. The Oil Sector Roadmap projected to have passed it into law by December 2015, as one of the Petroleum Industry Reform Bills, PIRBs. This makes it more than one year behind schedule.

“Hyginus Onuegbu, Chairman, National PIB Committee of PENGASSAN and NUPENG projected a loss of $15 billion yearly in withheld or diverted investments. There is a further loss of $100 billion potential earnings from 2010-2015. Mutiu Sunmonu, one time Country Chair of Shell Companies in Nigeria, SCiN indicated a loss of about $30 billion in delayed investments by his Company alone.

“Bank Okoroafor, the Chairman of Petroleum Technology Association of Nigeria, PETAN, estimates that $10 billion (N1.7 trillion) fresh investments are being lost. The NEITI’s figure is a loss of $200 billion yearly and another $15 billion is lost yearly in fresh investments,”  said Musa.

An energy expert at the event, Dr Sam Amadi said though the president is currently the Petroleum minister, he should not view the bill as an attempt to whittle his powers or economic influence.

Other panelists, Dr Dauda Garuba, Kingsley Amaku and Kolawole Banwo were of the opinion that Buhari’s decision to assent to the bill would be the greatest litmus test of his integrity.