In the evolving landscape of Nigeria’s oil and gas sector, understanding and effectively implementing the Petroleum Industry Act (PIA) is crucial. During CSR-in-Action’s webinar, themed “Navigating the Shift – Essential Implementation Insights for Businesses,” key stakeholders discussed the profound impact of the PIA, particularly on community stakeholders, including women and vulnerable groups.
Meka Olowola opened the conversation by underscoring the importance of sustainability reporting in ensuring transparency and accountability in the PIA’s implementation. He noted, “Our research, supported by the Ford Foundation and presented at SITEI 2023, highlights the significant impact of the PIA on women and vulnerable groups, especially in host communities. Gender imbalances in leadership roles, insufficient needs assessments by oil companies, and low awareness of the Host Community Development Trust (HCDT) framework are just a few of the issues identified. Sustainability reporting is crucial in providing accountability for how effectively the PIA’s objectives are being met.” This calls for a collective effort to promote inclusivity and responsible business practices.
Dr. Orji Ogbonnaya Orji, Executive Secretary of NEITI, stressed the need for a coordinated strategy in the PIA’s governance. He remarked, “The PIA is being implemented agency by agency without a comprehensive, coordinated plan, which is critical for transparency and accountability. A stakeholder-driven approach, involving civil society, businesses, and government, is essential for the Act’s success.”
Echoing this sentiment, Dayo Okusami, Partner at Templars, emphasized the necessity for patience and long-term planning in the Act’s implementation, stating, “The PIA represents progress, but like all laws, it requires time and proper implementation. Patience and transparency are key to ensuring its effectiveness over time.”
Akinbambo Ibidapo-Obe, General Manager at Oando Energy Resources, highlighted the significant role indigenous companies can play in refining and improving the PIA. He said, “Indigenous companies must take leadership, not just in implementing the PIA, but also in contributing to its ongoing development. This leadership is essential not only for the Niger Delta but for the entire country.” He also noted that the PIA presents a unique opportunity for empowering women by promoting women-owned businesses as key service providers in the oil and gas sector.
The impact of the PIA on gender dynamics was a major discussion point. Mrs. Eugenia Onyiriuka, Chairperson of the Assa North HCDT, emphasized the shift in community participation, particularly for women. “The PIA has changed many things, including how women are involved in community affairs. This inclusivity is crucial for promoting gender equality in the sector.”
Glory Alexander Thomas, Secretary of the Ibeno HCDT, pointed out that the Host Community Development Fund is a key element of the PIA, fostering inclusivity, especially for youths and women. “The Host Community Fund brings various groups together, ensuring that women and youth are not excluded, as they are also key stakeholders in the Act’s success.”
The webinar concluded with an emphasis on the transformative potential of the PIA. The Act is not merely a legal framework; it is a blueprint for a more transparent, inclusive, and sustainable oil and gas industry in Nigeria. As businesses, regulatory bodies, and communities collaborate, success will depend on a collective commitment to continuous learning, transparency, and adaptation. The full potential of the PIA can only be realized through sustained effort and inclusive practices, driving Nigeria toward a more equitable and prosperous future.
For more information on CSR-in-Action’s research on the PIA, visit SITEI’s PIA Research.