Uzodinma Reacts To Buhari’s Assent Of Controversial PIB

Governor Hope Uzodinma of Imo State has applauded President Muhammadu Buhari for signing the controversial Petroleum Industry Bill (PIB) into law.

Recall that President Buhari had on Monday signed the 2021 Petroleum Industry Bill (PIB) into law as confirmed by his spokesperson, Femi Adesina.

Despite the massive opposition against the bill which recommends three percent for oil-bearing communities, the Presidency said the new law can be reviewed as it is not “cast in stone.”

Speaking on Tuesday during an appearance on Channels TV, Uzodinma said the signing of the bill will help to regulate environmental hazards in the oil producing areas such as Imo, Delta, Akwa Ibom, Bayelsa, Rivers, Edo, Ondo, Abia, and Lagos.

He added that the new law will create room for value addition both in the oil-bearing communities, the oil-producing companies and government royalties.

Uzodinma, however, congratulated President Buhari for signing the bill into law, noting that past governments have failed to sign the PIB into law.

He said: “All the hazards that follow the production of oil, mostly environmental hazards, are as a result of the absence of regulatory environments.

“These laws when put in place, will not only regulate the environment but will also create room for value addition both in the oil-bearing communities, the oil-producing companies and government royalties. So, it is going to be a value chain. The benefits are going to be so enormous.”

He added: “I must say that the enactment and signing to the law of the Petroleum Industry Bill by Mr President is a very welcome development for which we must congratulate him.

“Recall that the past assemblies even before I joined the senate during the 7th National Assembly, made efforts to amend the Petroleum Act which was enacted in 1969 which also became analog but it has not been possible. That the President has been able to break this jinx is a welcome development for which we must congratulate him.”