ABUJA: Acting-President Assures Of Speedy Passage Of PIB Into Law

Prof. Yemi Osinbajo

VICE PRESIDENT, Professor Yemi Osinbajo, SAN who is presently the Acting-President following the short vacation embarked upon by President Mohammadu Buhari has assured of a speedy passage of the Petroleum Industry Bill, PIB stating that the action has become necessary towards checkmating monumental abuses and reckless mismanagements in the petroleum sector.

Osinbajo disclosed this while hosting a delegation of the Extractive Industries Transparency Initiative, EITI, in his office at the Presidential Villa, Abuja adding that the cardinal agenda of the present administration is to entrench accountability, transparency and due process in the system as against what was obtainable over the years.

He stated that by the unbelievable revelations of how the public fund were indiscriminately squandered and shared among a few individuals particularly in the previous administration, the federation would leave no stone unturned in ensuring that drastic changes are activated in the system. The Acting President recalled that the Federal Government has in a space of three months saved  a sum of N2.2 trillion through the strict introduction of the Single Treasury Account, TSA.    

“One of the objectives that we have set for ourselves is to ensure that we are transparent and able to handle our resources well. Of we (as a nation) had handled our resources better, with transparency, and good governance, we would not find ourselves were we are now”, he said.

On the Petroleum Industry Bill (PIB), Professor Osinbajo assured the visitors that the Federal Government’s cordial relationship with the National Assembly would not only have the PIB passed into law but essentially have it fast-tracked adding that as soon as the bills are passed into law, the government would have basis to issue directives and guidelines in respect of the law.

“We want to see what will come out of the bill because this will give some regulatory direction and we are working very closely to get that done,” Osinbajo said.

Apart from the Acting President, the Minister of State for Budget & Planning, Mrs Zainab Shamsuna Ahmed and the former Executive Secretary of the Nigeria Extractive Industries Transparency Initiative, NEITI were reportedly present in the meeting. Others included the Acting Executive Secretary of the NEITI, Mr. Orji Ogbonnaya Orji and the Deputy Head of the EITI global, Mr. Eddie Rich.