Senate Begins Review of Petroleum Laws to Reflect Present-Day Economic Realities–Eteng Reveals
By Gabriel Kekong
Abuja (Core Reporters) The Chairman of the Senate Committee on Petroleum (Upstream), Senator Williams Eteng,NNPCL has said the National Assembly is moving to amend Nigeria’s petroleum laws to align them with current economic realities, describing many of the existing provisions as obsolete.
Speaking with journalists after the committee’s meeting, the Cross River Central lawmaker said the committee’s priority is to strengthen the petroleum sector by improving infrastructure, increasing crude oil production and providing a legal framework capable of supporting sustainable growth.
“We are looking at ways of improving the petroleum sector, strengthening infrastructure, and increasing crude oil production. That is our major focus,” Eteng said.
The senator disclosed that the committee had already received a proposal seeking amendments to the principal petroleum laws, noting that several penalties and fines currently contained in the legislation have remained unchanged for decades.
“A presentation has been made for us to amend the principal petroleum laws. The penalties are old and outdated. Some of the fines were enacted in 1951, while others date back to 1962. There is a need to bring these laws in line with present-day realities,” he stated.
According to him, reviewing the laws has become imperative to ensure they adequately reflect modern economic conditions and provide an effective regulatory framework for the petroleum industry.
“Laws are made to serve society, and they must be amended from time to time to reflect current economic realities,” he added
Eteng also addressed reports suggesting that the Nigerian National Petroleum Company Limited (NNPCL) delegated a junior officer to appear before the committee, dismissing the claim as inaccurate.
He clarified that the official seen at the committee meeting was merely the company’s liaison officer to the National Assembly and not a representative appearing on behalf of the NNPCL management.
“There was no junior officer representing NNPCL before the committee. The person you saw is the liaison officer between the National Assembly and NNPCL. Please get that right. NNPCL requested an excuse, and another date will be fixed,” he explained.
The chairman reaffirmed the committee’s commitment to engaging relevant stakeholders as it advances legislative reforms aimed at modernising Nigeria’s petroleum industry, enhancing regulatory efficiency and creating an enabling environment for increased investment and production.
