PIB hits the rock

Compass

27 December 2010

PIB hits the rock

CHARLES OKONJI writes that the holistic reforms in the oil and gas sector of the economy which would have launched the nation into a new era of prosperity was frustrated by multinational oil firms that have dominated the sector for more than five decades.

Nigerian oil and gas industry in 2010 found a place in history, as Wikileaks gave a revelation of some goings-on in the industry, particularly the undue delay in passing the Petroleum Industry Bill (PIB).

Shell’s Executive Vice-President of Upstream Australia, Ms Ann Pickard, who was equally the company’s Executive Vice-President of Exploration and Production in Africa, was said to have played a major role on the delay of the bill, as she had, while in Nigeria, vehemently kicked against it.