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Oil & Gas sector: ‘Appropriate reforms gateway to prosperous economy’

Top Civil society activists in Nigeria have reiterated the need for appropriate reforms and right policies to govern, moderate and drive the oil and gas sector in the country for a prosperous economy.

The Coordinator of Publish What You Pay (PWYP), South-West Zone, Comrade Paul Oma-Chike said it has become imperative to properly scrutinize the existing policies in the sector and fine-tune them to meet the current reality.

Oma-Chike spoke on the sideline of the Basic Oil and Gas Reform Advocacy Training for Civil Society Organizations held in Lagos.

The training which was attended by members of Civil Society Organizations drawn from PWYP and the Civil Society Steering Committee (CCSC) was organised by Facility for Oil Sector Transparency and Reform in Nigeria (FOSTER).

Oma-Chike said PWYP would propel necessary actions needed to ensure appropriate reforms and right policies are put in place for the oil and gas sector to be managed in accordance with global best practices.

He commended FOSTER for equipping the CSOs with useful information on the current situation and assured that right steps would be taken in advocating for appropriate reforms and right policies in the oil and gas sector.

A legal expert who specialised in energy and petroleum business, Mr Isreal Aye gave the overview of oil and gas sector in Nigeria and stressed the need for appropriate reforms and right policies in the sector for the good of the economy of the nation.

In his remarks, FOSTER team leader, Mr Henry Adigun explained that petroleum industry powers the global economy, remains the bedrock of modern life and should not be misuse.

Adigun expressed the need for government to use the resources from oil and gas responsibly for the benefit of the citizens in an inclusive manner that would aid prosperity and sustainable development.

Also, Dr. Michael Uzoigwe, Mr Charles Majomi and Mrs Hauwa Yesufu of FOSTER in their separate presentations highlighted the critical issues in the oil and gas sector in Nigeria.