BY EMMA OVUAKPORIE
 |
| President Jonathan and Petroleum Minister, Diezani |
ABUJA—FORMER Federal Capital Territory ,FCT, Minister, Malam Nasir
Ahmed El-Rufai, yesterday, said the powers of the President and Minister
of Petroleum to award oil blocs should be curtailed.
El-Rufai,
who spoke at the final public hearing on the Petroleum Industry Bill,
PIB, organised by the House ad hoc Committee on the PIB, said Nigerians
should be given the opportunity to freely bid for available oil blocs,
instead of arbitrarily awarding same to select individuals by the
President.
He said: “Today, Nigeria has a track record of
attracting a billion dollars in fees from frequency spectrum. If we can
sell something, which is scarce, like the spectrum for that kind of
money, why can’t we bid out oil blocs? I think you should put in the PIB
a requirement that every oil bloc in Nigeria, whether onshore or
offshore, be publicly advertised, and everywhere in the world, Nigerians
and foreigners, be given the opportunity to bid for it, and whoever
bids the highest price should win, even if you have some provisions that
Nigerians can win, if they bid 10 or 20 percent lower. But no one, not
even the President should have the discretion to allocate oil blocs
without rules”.
El-Rufai argued that there should be a government framework that
encouraged independence of the regulators in the sector, insisting that
the regulators should not be made to report to the Minister of
Petroleum.
He said: “I think that as you are doing this
legislation, we must have independent regulators. Independent regulators
mean that they don’t report to the minister. They are independent of
the minister. The minister focuses on policy, the regulators have
freedom to regulate independently without any control of the minister,
which means, for instance, that we should not live in a country in which
the oil bloc can be allocated based on discretion.”
Speaking as a
director of the Centre for Africa’s Progress and Prosperity, CAPP,
El-Rufai suggested that the joint ventures should be incorporated and
put on the stock exchange, so Nigerians could buy shares in the JVC’s.
The former FCT helmsman also advised that more Nigerians be encouraged
to participate in the petroleum industry. On oil host communities’ fund
(PHCF), he applauded the initiative, saying it was assailable but,
however, called for a governance framework.
Executive Secretary of
NEITI, Mrs Zainab Ahmed, said to ensure transparency in the industry,
the PIB should provide for an allocation process that was clear and
transparent, and openned to the general public.
She maintained that there should be a clear description of the process for transferring or awarding oil licence.
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