Sundiata Post – With the current crises in the oil and gas sector of Nigeria which has left many Nigerians frustrated, experts have called for implementation of the Petroleum Industry Act (PIA) in an accountable and transparent manner by relevant authorities, as well as environmental responsibility.
In a webinar convened by CSR-in-Action Group, with the theme: “Navigating the Shift – Essential Implementation Insights for Businesses”, the Group’s Director, Mr. Meka Olowola, said, “We recognise that all stakeholders, particularly businesses, are navigating new territory with the PIA, and their ability to do so effectively is key to the Act’s successful implementation”
He referenced the research conducted by CSR-in-Action, supported by the Ford Foundation, which underscored critical aspects of the PIA’s implementation. These include a substantial gender imbalance in leadership roles, lack of comprehensive needs assessments by oil companies, and overall low awareness of the Host Community Development Trust (HCDT) framework within communities. This crucial research highlights the need to include these groups in the broader narrative of Nigeria’s oil and gas reform.
Olowola, emphasized CSR-in-Action’s leading role in sustainability reporting, showcasing their pioneering work in developing the first IFRS S1 & S2 compliant sustainability report for a leading organisation in the oil and gas sector.
Speaking on governance issue of the PIA, the Executive Secretary, NEITI, Dr Orji Ogbonnaya stated “The PIA is being implemented agency by agency without a coordinated, comprehensive strategy to guide the process. This is a major concern, as a stakeholders-driven, coordinated implementation plan, involving civil society, companies, and government is key to ensuring transparency and accountability. Without such coordination, agencies may avoid pushing the boundaries of transparency and accountability.”
Fo Dayo Okusami, partner at Templars, transparency in the governance of the petroleum sector is key. Hey noted, “Before the PIA of 2021, the last major legislation in the oil and gas sector was almost 60 years old. The PIA represents progress, but we must focus on realistic and sustainable implementation. No law is perfect. The PIA needs time, proper implementation, and patience.”
On her part, the Secretary Management of Ibeno HCDT, Glory Alexander Thomas, reiterated that community consultation is paramount, saying, “Projects without diligent consultation with the host communities tend to lead to failure.”
This sentiment was echoed by Mrs. Eugenia Onyiriuka, Chairperson of the Board of Trustees for the Assa North HCDT, who remarked, “The PIA has changed a lot of things, including how women are involved in community affairs”.
To Akinbambo Ibidapo-Obe, General Manager & Head of Commercial at Oando Energy Resources, he stressed, “The PIA presents a unique opportunity for HCDT to empower women and promote women-owned businesses as key service providers to the industry. At Oando, we are intentional about expanding our supply chain to include more women-owned businesses, ensuring they play a significant role in driving the sector forward” he remarked.
