Stakeholders and General Public Hearing on the Petroleum Industry Bill 2020 (2)

The House of Representatives Ad-hoc Committee on Petroleum Industry Bill welcomes all Stakeholders and the General Public to a Two-Day Public Hearing on the:

*PETROLEUM INDUSTRY BILL (PIB), 2020 (HB. 1061)*

Scheduled as follows:
Date: Wednesday, 27th – Thursday, 28th January, 2020.
Time: 10:00am Daily
Venue: Conference Room 028, House of Representatives, National Assembly Complex, Abuja

Join the Public Hearing
https://us02web.zoom.us/j/88941672444?pwd=RHVLZWZ1UHZjUzlBTzF1ZFd2b2R3UT09

Meeting ID: 889 4167 2444
Passcode: 223303

If you have any question, please send it to:
publichearingonpib2021@gmail.com

Stakeholders and General Public Hearing on the Petroleum Industry Bill 2020

The Chairman and Members of the Committee welcome all Stakeholders and the General Public to a 2-Day Public Hearing on the:

*PETROLEUM INDUSTRY BILL (PIB), 2020 (SB. 510)*


Scheduled as follows:
Date: Monday, 25th – Tuesday, 26th January, 2020.
Venue: Senate Conference Room 231, Senate Building, National Assembly Complex, Abuja.
Time: 10:00am

Join the Meeting
https://us02web.zoom.us/j/5700690990?pwd=ZS9oNFMrNlNCOWlTWld0TEhRRmJQZz09

*Meeting ID: 873 1402 5548

*Passcode: 292611

If you have any question, please send it to:

publichearingonpib2021@gmail.com

PIB Education Series – Session 6: 4pm WAT 10/12/20

At the 6th session of the PIB Education Series, I will be joined by guest speakers – Dr Ekpen Omonbude, Managing Director, Eraskon Nigeria Limited and Dr Gboyega Oladele, Chief Financial Officer, Vertex Energy Limited. We will be speaking about the New PIB Fiscal Framework including the components of the fiscal system, dual royalty regime, dual tax system (Nigerian Hydrocarbon tax and Companies Income Tax), allowable deductions, Conversion, Cost Price Ratio Limit, ascertainment of total profits and consolidation for tax purposes amongst others. Please join us by clicking this link.

PIB Education Series – Session 5: Host Community in the PIB

On Thursday, December 3 2020, I spoke with Mrs. Funmi Ogbue, CEO, Zigma Limited; Dr. Francis Adigwe, PIB Consultant to the Nigerian Senate; and Dr. Obinna Dike, Assistant Professor of Law, American University of Nigeria, on Host Community in the PIB. We discussed the background of host community, identification of host communities, sources of funding and allocation of host community funds, governance structure of the Host Community Development Trust, host community needs assessment and development plan. You may watch the video of the session below.

PIB Education Series – Session 4: Midstream & Downstream Regulation in the PIB

We had an amazing session talking with Ms. Ronke Onadeko, Principal Consultant, DRNL Consult Ltd, UK; Mr. Gbite Adeniji, Partner, Advisory Legal Consultants; Mrs. Ogechi Nkwoji, Head Economic Intelligence Research and Regulation, MOMAN; and Engr. Chichi Emenike, Head, Gas Ventures, Neconde Energy Limited on the Midstream & Downstream Regulation in the PIB.

Key points from the discussion include:

  1. There should be no template or framework for the pricing of petroleum products, if we are truly operating a deregulated market. The prices should be determined by demand & supply in the market, input prices, and potential or required return on investments amongst others.
  2. The PIB should not set the price of gas, as this will prove to be a disincentive for gas business in Nigeria. Gas prices should be determined in a “willing buyer – willing seller relationship”.
  3. The PIB needs to address importation of petroleum products.

Watch a video of the session below.

Summary of the Petroleum Host and Impacted Communities Development Bill 2018

Introduction

The Petroleum Host and Impacted Communities Development Bill 2018 (the “Host Community Bill” or the “Bill”) is made up of six parts, twenty-seven sections on 15 pages. The Bill is formally titled “A Bill for: An Act to provide for Petroleum Host and Impacted Communities Development Trust, Incorporation of Petroleum Host and Impacted Communities Trusts and for other related matters.” Continue reading “Summary of the Petroleum Host and Impacted Communities Development Bill 2018”