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I Wont Rush In Implementing Policies In Oil Industries Despite Challenges Says Buhari

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By Bukola Olasanmi

President Muhammadu Buhari said on Thursday that he would not be stampeded into implementing oil industry policies despite challenges in the sector.

Buhari, who was apparently reacting to controversies trailing his refusal to sign the Petroleum Industry and Governance Bill (PIGB), said reforms in the oil sector needed to be put into proper perspective before implementation could take place because of the impact it would have on the nation.

He said talks regarding the PIGB were still ongoing and could not be exhaustive.

He gave his opinion while being bestowed with the honour of Grand Comrade of the Productive Workers of the Nigeria Oil and Gas Industry by the National Union of Petroleum and Natural Gas Workers (NUPENG) at the Presidential Villa, Abuja.

“I fully agree with you that reforming the petroleum industry will unlock numerous untapped potentials for the nation. However, these reforms must be well thought out and must have the best interest of Nigeria and Nigerians as its core objective.

“Such reforms cannot and must not be rushed if we must get it right. We are still suffering from the effects of many legacy policies that were rushed and passed without fully appreciating the consequences the provisions embedded in them.

“Whatever decision we take now will impact either negatively or positively on generations to come. The Petroleum Industry Bill was conceived to ensure Nigeria’s future generations are positively impacted by its oil wealth.

“It was never about short-term gains. I want to assure you that dialogue on the Petroleum Industry Bill is still ongoing. At the end, we will have a bill that the nation will be proud of,” he stated.

Sent from my Samsung Galaxy smartphone.

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Support our journalism with a contribution of any size

Nigeria's media space is swamped with falsehood, deceit and delusion. Just a handful abides by the truth. TheNigerian is one of the unique platforms helping to shape the global narrative about Nigeria and her citizens across the world. It's quite costly to maintain this brand of journalism, however.

Readers from around the world, like you, make TheNigerian's work possible. We need your support to deliver quality, investigative journalism – and to keep it open for everyone. At a time when factual, honest reporting is critical, your support is essential in protecting our editorial independence. Every contribution, however big or small, is so valuable for our future.

Our brand of professional citizens' journalism requires a contribution from members of the public, patronage and sponsorship to thrive. We rely on this financial support to be able to carry out our numerous obligations of training, running cost, production, printing and general services. We also embark on Corporate Social Responsibilities through educational programs on our TV, newspaper and blogs.

Make a token donation to support us:
Account Name: Patriot and Sage Digital Communication Ltd
Account No: 1015619537
Bank Name: Zenith Bank

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