The Progressives Governors Forum (PGF), says it is committed to a democratic process of negotiating reform of the country, to make it more responsive to needs of Nigerians.
Alhaji Abubakar Bagudu, Chairman of the forum, gave the assurance in a statement on Wednesday in Abuja, while speaking on the Petroleum Industry Bill (PIB) recently signed into law by President Muhammadu Buhari.
“PGF commends President Buhari for this historic feat of moving the nation forward to a new democratic era of governance and business, through the management of the oil and gas industry.
“We remain committed to a democratic process of negotiating the reform of our republic to make it more responsive to the needs of Nigerians.
“We pledge our commitment to support the process of transition to the new era of oil and gas operations and management, as provided by the new Petroleum Industry Act 2021.
“Similarly, we are indeed more confident that the ongoing process of constitutional amendment in the National Assembly, will proffer more reforms to Nigerian economy,’’ he said.
Bagudu assured that the forum would continue to collaborate with the national assembly and the Federal Government to mobilise public understanding, to accelerate the process of change in the country.
He added that through its engagements with the leadership of the national assembly, the PGF would continue to provide needed support, to enhance the existing synergy between the executive and legislative arms of government.
He said the forum would also continue to draw lessons from President Buhari’s leadership and take necessary steps to replicate same in states of the federation.
Bagudu who is also the governor of Kebbi, noted that the signing into law of PIB by the president, would restructure operations and management of the country`s oil and gas industry.
He added that, with the coming into law of the new act, the APC, under Buhari`s leadership, had demonstrated unwavering commitment to change the country democratically.
Bagudu noted that this milestone was reached after over 20 years of endless national debates and stalemate on the bill.
“There is today, a new petroleum industry Act in the country, which has provided six months transition for the emergence of new institutional framework for the operations of oil and gas industry in the country.
“With the new Act, the task of regulation is vested on the two regulatory bodies created by the law.
“The extraction and sales of crude will now be undertaken by both the new Nigerian National Petroleum Company Ltd. and other private companies in both the upstream, midstream and downstream,’’ he said.
He added that this would be in line with regulatory standards, provided by the Nigerian Upstream Regulatory Commission and Nigerian Midstream and Downstream Petroleum Regulatory Authority created by the Act.
He further explained that the Act also created a Host Communities Development Trust, to be managed by Board of Trustees as provided by it.
He said that three per cent profit from the operations of oil and gas businesses, would be used for the development of host communities, as provided by the Act.
He added that this was in addition to the existing 13 per cent derivation to oil producing states and funds, allocated to the Niger Delta Development Commission.
“We join all Nigerians to celebrate this important achievement in the operations and management of Nigerian oil and gas sector.
“We also want to use this opportunity to congratulate members of the two chambers of the national assembly for the successful passage of the PIB.
“Without the cooperation of members of the national assembly, especially the leadership, with all the discordant voices around the debate, the new PIB law would have been aborted, like in the past,’’ he said.
Bagudu said the new Act, presented a convincing credential of the commitment of the APC, to restructure Nigerian economy through democratic process in line with provisions of the 1999 Constitution as amended.
He expressed optimism that with the democratic engagements, based on strategic considerations of legislative proposals in the national assembly to make or review existing laws, the Nigerian economy would be fully restructured.
He said even critics of the APC-led government could not ignore the fact that the passage of the Act, was an important democratic milestone.
According to the PGF chairman, it is a signpost of commitment of the APC government to develop the oil and gas sector and resolve all challenges associated with operations of the sector.
“With the new Act, there should be remarkable improvement in revenue collection from the oil and gas sector.
“This is expectedly, the next level of governance initiatives our party promised Nigerians, during the 2019 campaigns,’’ Bagudu said.
The PGF is an umbrella body of serving governors, elected on the APC platform. (NAN)
