House of Reps Evaluates PIA Implementation in Abuja

The House of Representatives has initiated a three-day stakeholders' summit in Abuja to evaluate the implementation of the Petroleum Industry Act (PIA) five years after its enactment. This event, organized by Speaker Tajudeen Abbas (Rep, Zaria) and 3 Streams Synergy Limited, focuses on the theme “Evaluating NNPC Limited’s Transformation Under the PIA.” Speaker Abbas, represented by Majority Leader Prof Julius Ihonvbere, emphasized that the PIA's purpose extends beyond establishing new institutions to fostering a transparent and investment-friendly petroleum sector.

He questioned the extent to which the promises of the PIA have been realized, noting that passing a reform law does not guarantee its successful implementation. Doyin Adelabu, CEO of 3 Streams Synergy, highlighted the need to assess NNPC Limited's progress in corporate governance and accountability, as well as the role of legislative oversight in supporting reforms.

The summit aims to address existing gaps and enhance collaboration among stakeholders.