The House of Representatives has moved to establish an oil exploration body that will be saddled with the responsibility of discovering new oil deposits in the country.
The House yesterday voted to consolidate a bill seeking to establish the National New Frontier Exploration Agency for the purpose of exploration and production of oil and gas in the Chad basin, Dahomey Basin, Imo Basin, Benue Trough, Bauchi Basin and Sokoto Basin with the Petroleum Industry Bill (PIB).
Sponsored by Rep. Kaka Kyari Gujbawu (PDP Borno) the bill scaled through first reading in the House on Wednesday July 18, 2012 and was slated for second reading but when it was mentioned, Deputy House Leader Leo Ogor (PDP Delta) observed that the PIB was before the House with provision for a similar agency.
Consequently, Speaker Aminu Waziri Tambuwal ruled that the piece of legislation be kept in view for consolidation with the PIB during its second reading.
President Goodluck Jonathan had forwarded the new revised version of the Petroleum Industry Bill on July 19th 2012 which incidentally proposed the functions of oil exploration agency to be under the National Petroleum Bureau. In the initial bill sent to the National Assembly by late President Umaru Musa Yar'adua in December 2008, there was a provision to have an independent agency called National Frontier Exploration Services, but was scrapped in the review under Jonathan.
When established the agency, according to Gujbawu, will regulate petroleum exploration and production activities in new frontiers in Nigeria and ensure that the interest of the Federal Government and indigenous economy is best served in accordance with the Nigeria Extractive Industry Transparency Initiative and local content law.
Speaking to Daily Trust after yesterday, Rep Gujbawu also noted that the legislation will enhance the attainment of Jonathan's transformation agenda which inter alia seeks to "boost the country's oil and gas reserve from its current level of 37billion barrels of oil and about 187 trillion cubic feet of gas."
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Creating the new frontier agency is one of the most contentious issues delaying the first reading of the PIB in the House of Representatives with MPs from non oil producing zones insisting that it must be created to cater for oil and gas exploration in other parts of the country.
Also, yesterday, Daily Trust gathered that following the refusal of lawmakers in the House of Representatives to allow the controversial Petroleum Industry Bill be read for the first time on the floor of the House last week, the ruling People's Democratic Party (PDP) and the Presidency are said to be discussing on how to resolve the impasse.
The bill was slated for first reading on resumption of the House from its annual recess last Tuesday but was halted after MPs from the five geopolitical zones that are non oil producing rejected the revised version of the bill forwarded by President Goodluck Jonathan.
A very top political source told Daily Trust that the PDP has offered to broker a truce between the legislators and the presidency with a view to incorporating some of the grievances of the non oil producing states.
"The National Assembly members have stood their ground that they will not consider the bill as it came from the executive because it is largely skewed against states that are outside the oil rich Niger Delta," the source said.
Daily Trust
that's an awesome move from our house of rep.now they're talking
Good one by the reps, there must be no partiality in that bill else it should be tossed out.