Trade Minister Sets Up Panel To Review PIA, Says Act Usurping Ministry’s Mandate

The Minister of Industry, Trade and Investment, Adeniyi Adebayo on Monday inaugurated a technical committee to carry out a review of the Petroleum Industry Act 2021 and its implications on the statutory responsibilities of the ministry.

The Minister stated that the technical committee headed by the director, Legal Services of the ministry, Muhammed Danjuma Alhassan will among other things review the Petroleum Industry Act (PIA) 2021 and its implication on the Oil and Gas Export Permit being issued to exporters by CED.

It will also review the Petroleum Industry Act (PIA) 2021 in relation to the Weights and Measures Act, and its implication on the Department; highlight the implication of the Act on the roles of CED and Weights and Measures Departments under the Nigerian Export Supervision Scheme(NESS);

The Committee is also expected to suggest appropriate strategy to use in bringing the NESS scheme to FMITI since the scheme is about exports, which is a core mandate of the Ministry; and suggest ways to remedy the infractions on the responsibilities of the Ministry.

President Muhammadu Buhari has signed the Petroleum Industry Bill into law.

The President had signed the bill into law last month and it seeks to ensure reforms, promote transparency and attract capital flows into the oil and gas sector

The bill comprises five major parts, including Governance and Institutions; Administration; Host Communities Development; Petroleum Industry Framework; and Miscellaneous Provisions comprising 319 clauses and eight schedules.

But the Minister noted that the Act tampered significantly with some statutory roles of the ministry.

He said, “As a Ministry, some of our roles as they relate to the administration of the Pre-shipment inspection and the Nigerian Export Supervision Scheme (NESS) had hitherto been under the Ministry of Finance, and are now under the new commission under the Petroleum Industry Act.”

He stressed on the need for the ministry to leverage on the window provided by the review of the Act to enable it play a more significant role under the scheme in line with its mandate.

“Therefore, your Technical committee is expected to take a professional look at the document, come up with strategies that will help redress the identified issues.

“There is a sense of urgency in the execution of your assignment, so that we can seek the amendment of the infractions on the statutory functions of the Ministry, especially through a request to relevant institutions of government.

“It is important to state that your assignment is critical to the continuity of some of our roles as a Ministry.

“I am confident in the quality of members chosen to undertake this assignment, therefore I task you all to make far reaching recommendations that will help sustain and stabilize our operations,” he said.

The committee which comprises directors in the ministry has two weeks within which it is to submit its report.