Chief Justice of the Federation, Mariam Aloma Muktar today advo
cated for the quick passage of the Petroleum Industry Bill.
Justice Muktar who made the appeal at a gathering to forge a relationship between the Nigerian judiciary and the oil and gas industry, said “the passage of the bill will eliminate various legislative hiccups and open new frontiers for a more robust oil and gas sector that will be both private sector led and commercially driven”.
She said the judiciary must remain steady and current in developing capacity to keep pace with the trend of development in the oil and gas sector particularly in view of its pivotal role in Nigeria’s economy and the plethora of oil and gas cases in Nigerian courts.
She recalled that the International Monetary Fund statistics indicate that oil and gas accounts for more than 95% of Nigeria’s export and about 83% of government revenue leading up to more than 40% of the nation’s Gross Domestic Product (GDP).
Former Chief Justice and the Chairman Governing Board of the International Institute Of Petroleum, Energy Law and Policy, Justice Alfa Belgore shared the same sentiments with the Mukhtar saying he believes the oil and gas law of the country is like a toothless dog and except there is a genuine commitment to amend the laws the full potentials of the sector will never be realized.
Other however advocated the improvement of capacity and knowledge of the ever changing oil and gas laws by judicial officers.
Issues to be considered include International Legal Framework relating to Oil and Gas, Legal Aspects of Exploration and Production Activities in Nigeria and the settlement of disputes arising from oil and gas operations in Nigeria.
