Chairman Senate Committee on Petroleum Upstream, Senator Tayo Alasoadura and Chairman Senate Committee on Petroleum Downstream Senator Kabiru Marafa welcomes Senators and Members of the general public.

Members of the Joint Committee present are:

1.     Senator Rose Okoh,
2.     Senator Gershom Bassey
3.     Senator Peter Nwaoboshi
4.     Senator Akpan Bassey
Senator Tayo Alasoadura delivers his opening remarks at the Senate and House joint Public Hearing.
Petroleum Industry Bill is one of the key landmark bills of the 8th Nigerian Senate – Sen. Tayo Alasoadura
“To get this country out of recession the Petroleum Industry must be made profitable and efficient ” – Sen. Tayo Alasoadura
Senate President, Bukola Saraki now rises to officially declare the‪#PIBHearing open.
“It is imperative that we comprehensively reform the Oil and Gas Industries ”  – Bukola Saraki.

“The 8th Senate recognizes that since 2008 when the PIB was introduced it has been faced with major challenges”-Bukola Saraki.
I thank all that participated in compiling the ‪#PIB since 2008, we acknowledge that these reforms are necessary-Bukola Saraki
The key objective is to reform the ‪#PIBto meet International best practices and ensure effective governance “- Bukola Saraki
“This is another avenue to hear from stakeholders and the public & improve the PIBBill and pass without further delay
Senate President ‪@bukolasaraki further states some of the objectives of the #PIBBill
“The ‪#PIB will establish a framework for the creation of commercially oriented and profit driven entities”-Bukola Saraki
‪#PIBHearing‪ “We must ensure that we expedite the work of the Committee after this public hearing, in order to make sure that the #PIBBill is signed, sealed and delivered for the benefit of the Nigerian public early in 2017″ – Bukola Saraki
The #PIBBill establishes the process for breaking the NNPC into two commercial entities which will be limited by shares.
‪The two entities will be known as the National Petroleum Company and the National Assets Management Company. 
‪”A major drawback of the existing framework is the lack of clarity of roles, self-regulation and unnecessary overlaps” – Bukola Saraki
‪” The #PIBBill will create efficient and effective governing institutions with clear and separate roles for the petroleum industry” 
‪ #PIBBill will promote transparency in the administration of the petroleum resources of Nigeria” – @bukolasaraki
‪Senate President @bukolasaraki further adds that the PIB will create a conducive business environment for petroleum industry operations.
‪”The journey begins now I assure you that we will guarantee that all of these bills are passed in record time” – Bukola Saraki
‪”I wish you all a very fruitful deliberations I now declare open the Public Hearing on the PIGBill” -@bukolasaraki #PIBHearing
‪Sen. Alasoadura now announces the presentation for today, @NNPCgroup, DPR, PENGASSAN, NUPENG, NCDMB and BPE 
‪The GMD of @NNPCgroupMaikanti Barau rises to make his presentation stating that@NNPCgroup acknowledges the significance of the#PIBHearing

‪” We support the creation of three entities – @NNPCgroup

‪These entities are:
a.     The National Petroleum Company
b.     The National Assets Management Company and
c.      Nigeria Petroleum Company

‪ In view of changes in international and domestic business environment@NNPCgroup further suggests certain revisions.
‪Sen Alasoadura asks the representatives of NCDMB to inform the Executive  Secretary to take the Senate call very seriously and show up in person. 
‪Comrade Chika Onuegbu rises to present the position of NUPENG & PENGASSAN on the Petroleum Industry & Governance Bill. 
‪”The PIGB will determine the future of the Nigerian oil and gas industry as well as the Nigerian workers” -Chika Onuegbu 
‪”The PIGB is intended to privatize as much as is practicable government Interest in the petroleum sector this if not carefully handled will lead to serious labour issues” -PENGASSAN & NUPENG
‪There is no mention of the Petroleum Host Community Fund in the bill, we hope that there are plans to address that”-Uche Onuegbu
General Counsel to BPE Dr. Terhemen Andzenge now making his presentation.
‪”The Bill should be reworked to be sure that the provisions are independent in all terms” – Dr Andzenge
‪”Whatever will come out of this deliberations will be to the best interest of the great people of Nigeria” – Senator. Akpan Bassey 
‪Pan NigerDelta Forum representative now takes the stage he narrates the plight of the Niger Delta region since discovery of oil. 
‪”Without the Oil and Gas derived from the  Niger Delta there will be no @NNPCgroupand the Petroleum Industry Governance Bill”
‪”According to the Federal Government for Oil wells discovered by the Lagos State belongs to the States” –
‪There are other needs asides from using the proceeds of@NNPCgroup for Infrastructure.
‪It is out of place to use Petroleum Host Communities, it should be Petroleum Producing Communities”
‪”What we have in the PIGB does not address post communities issues there is a bill that will address these points raised by the Pan Niger Delta Representative”  – Sen Tayo Alasoadura

‪The last presentation now ongoing by Space For Change (S4C) Group. There recommendations are as follows:
‪”A clear legislative prohibition requiring that the president should no longer have the power to become the petroleum minister” 
‪” It will be Ideal for the President to appoint members of the board with input from minister”
‪The board should then be responsible for recommending to the President an executive head of the regulator and the Senate to approve:
‪1. Women’s under – representation in energy sector decision- making.
‪2. Petroleum Host Communities Fund and environmental protection. 
‪3. The powers of the petroleum minister.#PIBHearing
4. Independence of regulatory agencies and new entities#PIBHearing
‪5. Public participation in oil sector governance.#PIBHearing
‪Senator Akpan Bassey informs the presenter for Space for Change that the concerns are noted and will be addressed accordingly. 
‪Senator Alasoadura makes a few remarks and@SenMarafaKabir takes the final remarks which brings  Day 1 of the #PIBHearing to an end.