House Of Reps Panel Backs Deregulation Of Oil Sector

Deputy Whip, Hon. Ado Doguwa heads the Ad hoc Committee on Deregulation of the Petroleum Downstream Sector Image credit: The Sunday Interview screengrab

The House of Representatives yesterday embraced the deregulation of the downstream sector of the oil industry by the Federal Government.

The Nation report continues:

It described the action as one done “in the greater interest of the Nigerian economy and posterity.”

The House urged the “Executive arm to ensure full and speedy implementation of the Appropriations Act, 2016, as therein lies much of the palliatives that would help in calming the current situation.”

The resolutions of the House came through the consideration and adoption of the interim report of the Ad hoc Committee on Deregulation of the Petroleum Downstream Sector headed by Deputy Whip, Hon. Ado Doguwa.

The Committee said it met with major stakeholders in the economy including the leadership of the Ayuba Wabba-led Nigeria Labour Congress (NLC) n Tuesday but the Trade Union Congress (TUC) did not attend the meeting.

The lawmakers praised the Buhari- led administration for the political will to halt the misappropriation of trillions of Naira of public funds and asked Nigerians to support the decision.

The House urged the organized labour “to continue to show understanding, of the situation while dialoging in the interest of its teeming membership and Nigeria.” It admitted that a section of the organized labour was angry as a result of the hike in the pump price of petrol.

Doguwa however said the Committee “extracted the gentlemen’s assurance to work with the House in ensuring that the impasse is resolved positively and in the greater interest of the Nigerian workers, and Nigeria at large.”

He added in the report: “Due to urgency of the threat of a Labour action, the Committee resolved to expedite action and conclude intervention on that tranche of its mandate and present an interim report to enable the House consider the next appropriate line of actions.

“The Committee considered that since the issues involved span wider than the threat to down tools by Labour, there was need to intensify effort at engaging the organized labour and other stakeholders to work toward a lasting and positive solution to all the problems.

“The current economic realities are generally after effects of global trends and so there is need for Nigeria to give government time and support to chart a way of progress.

“During its interactive session with organized labour, the Committee sought to extract a commitment from Labour to put off the intended action, but the representatives of the labour unions stated that they would not be able to give any immediate final response until they secured the consent of their State chapters.

“They categorically reiterated the massive hardship inflicted on the Nigerian worker by the recent developments in the petroleum downstream sector, which included sky-rocketing prices in the market place both within and outside the oil and gas sector. They insisted on an assurance of reliable palliative measures to assuage the sufferings of the Nigerian workforce.