This year’s theme of the 3rd Lawyers in OIl and Gas Conference— Nigerian Oil and Gas Industry: Its National Policies and Regulations, A Reflection on the Economy — was chosen bearing in mind the current administration’s ability to make something positive out of a negative situation. It is no longer news that the oil and gas industry has been waiting for over 20 years for the Petroleum Industry Bill, PIB, passage into law.
Although a lot of effort was put in by the stakeholders to ensure that the Petroleum Industry Governance Bill was passed into law during this regime, unfortunately it couldn’t be fully achieved. But the Honourable Minister of State for Petroleum Resources, Dr Emmanuel Ibe Kachikwu, who is also a lawyer, decided that instead of waiting for the PIB to be passed into law, which delay will continue to keep the industry at a standstill, he could introduce new policies and regulations which only needed to be approved by the Federal Executive Council to regulate the industry.
The policies
Some of the policies and regulations include The National Oil Policy, The National Gas Policy, The National Petroleum Fiscal Policy, and The National Gas Flare Commercialisation Regulation. Legal experts and others will examine the impact of these policies and regulations, and their effect on the industry at our annual conference which will hold at the Four Points by Sheraton on May 7.
Impact of previous conferences on Policies
First of all, these events serve as training and networking ground for lawyers in the industry. It has been observed that we need to build and improve on capacity in this area, as there is a vacuum. This is because there is a wide gap of knowledge, experience and exposure between the older generation of lawyers who are already authorities in their own right and the younger generation. This must be bridged, and the network helps to do that. Secondly, it helps members keep abreast of the latest information going on the industry to help them better advice their clients.
Though still in its formative stage, recommendations from these events are forwarded to the necessary quarters to help guide their decisions and activities.
Participation is open to all lawyers and non-lawyers in the oil and gas industry, but attendance at the conference requires registration with a token fee.
Stalling of the Petroleum Industry Bill
Yes, I am concerned that it has not been passed into law after so long. There is so much to be gained with its passage. Among the benefits is that no individual will enjoy monopoly in the industry. It will also reduce bureaucratic bottlenecks in the system, lead to massive reformss, and boost the economy, among other things.
Expectations from the ninth National Assembly
I am hoping that they would be the ones to break the jinx of more than 20 years by passing all pending bills into law.
Culled from Roqeebah Oloko’s interview by a media house. Oloko is the Secretary Lawyers in Oil and Gas Network
Details of the Oil and Gas Conference
Date: 7th May, 2019
Venue: Four Point by Sheraton, Victoria Island, Lagos
Time: 8:00AM
Registration Fee: ₦ 100,000
Account Name: Lawyers in Oil and Gas Network
Account Number: 0425356943 Guaranty Trust Bank
Contact: 08065201815, 08080940447 info@lawyersinoilandgas.com