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Journalists, stakeholders advocate reform in oil sector

25 Nigerian journalists from various media platforms in the print and electronic arms of the Industry, spread across the country are interacting with top oil and gas experts at the Pan-Atlantic University (PAU), Lagos, to examine critical issues which will encourage greater accountability and transparency in the management of the nation’s natural resources.

Amidst intellectual discourse and robust engagement, participants in the 10-day workshop titled: “Master Class in Oil and Gas Reporting”, are digging deep into the extractive industries to identify the issues bedeviling the sector.

Experts such as Barrister Israel Aye, Managing Partner- Sterling Partnership of Energy, and Akinbode Olufemi, Deputy Executive Director- Environmental Right Action (ERA), have attributed the challenges in the sector to policies and regulations supposedly meant to guide petroleum operations.

A former financial officer of the NLNG and CEO, ME Consulting, Victor Eromosele, made a case for the retention of the Nigerian National Petroleum Corporation (NNPC), which he insisted does not require wholesale privatisation.

In the same vein, Toyin Akinosho, publisher of “Africa Oil and Gas Report,” asserts that licensing and allocating rights to extract oil and gas has suffered hiccups due, partly to inter-partnership squabbles or demanding exorbitant farm-in fields a few months to the second deadline for the commencement of production from the Marginal Fields 2003.

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