Civil Society Organisations (CSOs), under the auspices of the Growth Initiatives for Fiscal Transparency (GIFT) Nigeria, have launched a policy brief to interrogate the Petroleum Industry Act (PIA), 2021.

Last year, President Muhammadu Buhari signed the Petroleum Industry Bill (PIB) 2021 into law.

The Petroleum Industry Act provides a legal, governance, regulatory and fiscal framework for the Nigerian petroleum industry, the development of host communities, and related matters.

Speaking at the event, Oke Epia, executive director of OAI, said the policy document interrogates fiscal responsibility and responsiveness of the Petroleum Industry Act (PIA), 2021.

Victor Muruako, chairman of the FRC, represented by Charles Abana, head of legal and enforcement, commended OAI and the cluster for their collaboration with other partners with a laudable brief.

Muruako said the recommendations contained in the document would point the commission in the direction of how to mainstream fiscal responsibility in the petroleum sector.

On his part, Henry Adigun, oil and gas governance consultant, in his review of the policy brief, made a case for better funding of the FRC to enable it to carry out its mandate in enforcing provisions on fiscal responsibility and macro-economic stability.

Orji Ogbonnaya Orji, executive secretary of NEITI, represented by Chris Ochonu, assistant director, advocacy and communications, said the release of the policy brief is a valuable addition to the literature on the petroleum industry reforms in the country.