• Concerns rise over looming duopoly on importation of petrol, diesel, othersDiscordant voices yesterday hit harder in the nation’s oil and gas industry following indications that the National Assembly will, today, harmonise the Petroleum Industry Bill ahead of a possible passage latest on Wednesday before the two chambers proceed on recess come Thursday.
After 22 years of unbroken democracy amid revenue losses estimated at about $200 billion, the National Assembly had two weeks ago, passed the bill amid rancor and stern opposition from various sections of the country and the industry. “Such import to be done under NNPC Limited Direct Sale/Direct Purchase scheme. To safeguard the health of Nigerians, imported petroleum products shall conform to the Afri-5 specification as per the ECOWAS declaration of February 2020 on adoption of the Afri-Fuels Roadmap.”
According to him, “in the near term, only NNPC and Dangote will have domestic refining capacity for PMS for instance, so they will be the only importers. This takes the industry back and could not have been the intention of the Bill. “I would, therefore, like to see the introduction of a detailed business and human rights regulation under the new law, which will clearly and comprehensively spell out what responsible business enterprises should do to anticipate, mitigate and redress human rights and environmental harm in their operations,” Olawuyi said.
Dangote pulling the strings...
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