{"id":122963,"date":"2025-10-14T01:14:13","date_gmt":"2025-10-14T00:14:13","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=122963"},"modified":"2025-10-14T01:14:13","modified_gmt":"2025-10-14T00:14:13","slug":"speaker-pledges-support-for-oil-sector-reforms","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/speaker-pledges-support-for-oil-sector-reforms\/","title":{"rendered":"Speaker Pledges Support For Oil Sector Reforms\u00a0"},"content":{"rendered":"<div>By Tracy Moses<\/div>\n<div><\/div>\n<div>Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, has commended stakeholders in Nigeria\u2019s oil and gas industry for their steadfast dedication to repositioning the downstream petroleum sector, describing their collaboration with government institutions and labour unions as essential to national growth and sustainable energy development.<\/div>\n<div><\/div>\n<div>Speaking at the official opening of the inaugural edition of the Annual Downstream Petroleum Week held on Monday at the National Assembly Complex, Abuja, Abbas said the event represents a major step in Nigeria\u2019s ongoing pursuit of energy reform and industrial renewal.<\/div>\n<div><\/div>\n<div>The programme was jointly organized by the House Committee on Petroleum Resources (Downstream) in collaboration with the Federal Ministry of Petroleum Resources and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).<\/div>\n<div><\/div>\n<div>The Speaker praised the initiative of the Committee Chairman, Ikeagwuonu Ugochinyere, and members of the committee for bringing together key industry players including the NNPCL, Dangote Group, PENGASSAN, and other vital sectoral bodies for meaningful engagement.<\/div>\n<div><\/div>\n<div>Abbas observed that the conference theme, \u201cCelebrating Our Successes, Confronting Our Challenges and Finding Solutions for the Petroleum Downstream Sector,\u201d underscores the nation\u2019s readiness to evaluate progress, tackle constraints, and reinforce its commitment to transparency and resilience in the petroleum industry.<\/div>\n<div><\/div>\n<div>He noted that President Bola Ahmed Tinubu\u2019s Renewed Hope Agenda has already triggered sweeping reforms and strategic investments that are transforming Nigeria\u2019s energy landscape.<\/div>\n<div><\/div>\n<div>According to the Speaker, the start of operations at the Dangote Refinery represents a bold stride toward energy independence, while the establishment of other private refineries reflects renewed investor confidence. Abbas reaffirmed the National Assembly\u2019s determination to create a favourable legislative and regulatory environment that will ensure the industry\u2019s continued growth.<\/div>\n<div><\/div>\n<div>He described the Petroleum Industry Act (PIA) 2021 as a turning point in Nigeria\u2019s oil and gas governance framework, restructuring the NNPC into a commercially viable entity and creating two critical regulatory bodies, the NUPRC and NMDPRA.<\/div>\n<div><\/div>\n<div>&#8220;The PIA restored investor confidence, curbed oil theft, and deepened transparency and competition in the sector,\u201d Abbas said.<\/div>\n<div><\/div>\n<div>He charged participants to use the forum as a platform to propose workable solutions to persistent challenges such as pipeline vandalism, infrastructure deficits in the LPG and CNG value chains, pricing, and environmental sustainability. Abbas also assured that the House of Representatives would take into consideration the forum\u2019s recommendations when shaping future policy directions.<\/div>\n<div><\/div>\n<div>In his address, Chairman of the House Committee on Petroleum Resources (Downstream), Hon. Ikenga Imo Ugochinyere, described the summit as \u201ca new chapter in Nigeria\u2019s energy journey,\u201d aimed at institutionalizing innovation, inclusiveness, and accountability across the petroleum value chain.<\/div>\n<div><\/div>\n<div>He noted that the Annual Downstream Week would serve as a recurring platform for reviewing achievements, identifying challenges, and recalibrating policies that balance the interests of government, industry players, and labour organizations.<\/div>\n<div><\/div>\n<div>Ugochinyere lauded the steadfast support of Speaker Abbas, who was represented by Deputy Speaker Rt. Hon. Benjamin Kalu, as well as the participation of the Ministers of State for Petroleum Resources, Senator Heineken Lokpobiri and Rt. Hon. Ekperikpe Ekpo, alongside regulators and private sector leaders.<\/div>\n<div><\/div>\n<div>The lawmaker extolled the Petroleum Industry Act (PIA) and the removal of fuel subsidies as landmark policies that have enhanced efficiency, transparency, and investor confidence. He particularly praised the Domestic Crude Oil Supply Obligation (DCSO) policy of the NUPRC, which prioritizes local refining over crude exports, calling it \u201ca decisive move toward self-sufficiency.\u201d<\/div>\n<div><\/div>\n<div>According to Ugochinyere, the Committee is working on new legislative frameworks to fortify the downstream sector, including provisions to grant local refineries the first right of refusal on crude supply, simplify regulatory procedures, and enact a Refinery Protection and Promotion Bill to classify refineries as strategic national assets.<\/div>\n<div><\/div>\n<div>He also urged continued collaboration between government and private operators to maintain industrial peace and build on the progress achieved so far. Commending the resilience of organizations such as PETROAN, NOGASA, MEMAN, NARTO, IPMAN, NGA, and DAPPMAN, he said their efforts have kept petroleum products flowing despite economic headwinds.<\/div>\n<div><\/div>\n<div>&#8220;With unity of purpose and visionary leadership, Nigeria can emerge as Africa\u2019s energy powerhouse,\u201d Ugochinyere asserted.<\/div>\n<div><\/div>\n<div>Also speaking, Chairman of the House Committee on Agricultural Production and Services, Rt. Hon. Bello Ka\u2019oje, reaffirmed the legislature\u2019s determination to transform Nigeria\u2019s agricultural sector through evidence-based policymaking and partnership with critical stakeholders.<\/div>\n<div><\/div>\n<div>Ka\u2019oje emphasized that agriculture remains the foundation of Nigeria\u2019s economy, providing a viable path to food security, job creation, and sustainable development. He encouraged farmers, researchers, policymakers, and development partners to collaborate in framing laws that are practical, inclusive, and forward-looking.<\/div>\n<div><\/div>\n<div>He lauded the commitment of the Speaker, the Ministers, and relevant agencies for championing agricultural transformation, expressing optimism that joint efforts will yield a resilient and food-secure nation.<\/div>\n<div><\/div>\n<div>&#8220;Our mission as lawmakers is to ensure that every piece of legislation translates into tangible progress for farmers and improves the lives of ordinary Nigerians,\u201d Ka\u2019oje said.<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>By Tracy Moses Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, has commended stakeholders in Nigeria\u2019s oil and gas industry for their steadfast dedication to repositioning the downstream&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":119802,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-122963","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Speaker Pledges Support For Oil Sector Reforms\u00a0 - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/speaker-pledges-support-for-oil-sector-reforms\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Speaker Pledges Support For Oil Sector Reforms\u00a0 - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"By Tracy Moses Speaker of the House of Representatives, Rt. 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