Johnson also urged the management of the oil firms to respect duly signed CBAs and ensure that where there was no CBA in place, the association would ensure an atmosphere that would ensure that a CBA was put in place to reduce friction in the sector.
According to him, “The gas policy intends to move Nigeria from an oil-based to an oil and gas-based industrial economy, which will be driven by the core principles including separating the respective roles and responsibilities of government and the private sector; establish a single independent petroleum regulatory authority.”
“It is obvious, 40 per cent of the national employment comes from the sector not only that, 95 per cent of the foreign exchange earning of Nigeria comes from oil and gas. 16 per cent of our GDP also comes from this sector, with 37 billion reserved crude oil as well as 183 cubic feet of gas.”
“As social partner and major stakeholder in the sector, we can attest that instead of the amendment, the Gas Master Plan unveiled under former President Goodluck Ebele Jonathan, be given proper implementation. This can optimise the Nigeria’s gas resource potential, end gas flaring in the country and bring gas revenue earnings to level up with that of crude oil.”
“Gas development remains the new horizon for opportunity. There is so much happening that needs to happen that should have happened yesterday and not begin to happen now in the gas sector. Gas is the future of this country in terms of infrastructure, support, members of staff training and re-training.”
“The reality is that once private sector players begin to build their own refineries, whatever we are afraid of will disappear. And unless we begin to move very rapidly and quickly to position these refineries in such a way that they can compete, we will lose the refineries completely together with the job scale that exist there right now.”
“Closer home, new exploration plays have been and will continue to be discovered in neighbouring West African countries and East Africa, with many producing countries already reviewing their fiscal terms to capture profits and increase government take,” he said.
“We need the governance bill to set up the framework for the following as stated in the governance bill document – Create efficient and effective governing institutions with clear and separate roles, establish a framework for the creation of commercially oriented and profit driven entities, promote transparency and accountability and finally foster a conducive business environment.”
According to him, “We ought to have passed the PIGB yesterday, but because of the demise of Senator Isiaka Adeleke, we decided to hold a special session in his honour. That was why we could not pass it. But we have already agreed that the bill will be considered and passed between May 16 and 17.”
The proposed amendment, it said, could directly affect some $25 billion worth of foreign investments as well as another 18,000 Nigerian jobs linked to NLNG’s Trains 7 and 8 expansion programmes, adding that this will negate the job creation and job security policy being propagated by the current administration.
