TheCable

The Peoples Democratic Party (PDP) says signing the Petroleum Industry Bill (PIB) into law will not guarantee desired stability and development of the Nigerian oil and gas sector and the Niger Delta region.

President Muhammadu Buhari signed the PIB bill into law on Monday.

Before the president’s assent, the bill was a  subject of controversy , especially during passage in both chambers of the national assembly.

Some major stakeholders from the oil-producing communities had argued that the percentage earmarked for the communities is not enough, owing to the negative impact of oil exploration in those communities.

Reacting in a statement by Kola Ologbondiyan, its spokesman, on Monday, the PDP advised the president to send amendment bill to the national assembly to reflect the true wishes and aspirations of every segment of the Nigerian society.

It expressed surprise that Buhari ignored the outcry by majority of disenchanted Nigerians and signed the bill into law.

PDP noted that signing the bill into law in spite widespread public rejection amounted to “endorsement of imposition, lack of respect for the people and the tenets of democracy as a system of government’’.

The party added that signing the bill into law was not in the interest of oil producing communities, particularly in the face of the challenges they faced as a result of oil exploration.

“Mr. President could have returned the bill to the National Assembly with a request that it is made to address the demands of the oil producing communities,” PDP said.

“Our party fears that the new law cannot guarantee the desired stability and development in the oil and gas sector as well as respite in the Niger Delta region.

“The PDP calls on President Buhari to salvage the situation by immediately forwarding an amendment bill to the National Assembly to reflect the true wishes and aspirations of every segment of our nation.”

The party also called for calm across the country, particularly the south-south geo-political zone.

He also urged lawmakers elected on PDP platform to be at alert even as preparation must be in full swing for an urgent amendment to the law