CSR-in-Action Group, a leader in sustainability-driven initiatives globally, successfully convened prominent industry leaders at its recent webinar to discuss the implementation of the Petroleum Industry Act (PIA).
Themed: “Navigating the Shift – Essential Implementation Insights for Businesses”, the event provided a platform for key stakeholders to examine the PIA’s impact on community stakeholders.
Meka Olowola, director of CSR-in-Action, opened the webinar by highlighting the importance of the event.
He said:
“We recognise that all stakeholders, particularly businesses, are navigating new territory with the PIA, and their ability to do so effectively is key to the Act’s successful implementation. This is the basis for this event as a part of our constructive engagement process.”
He referenced the research conducted by CSR-in-Action, supported by the Ford Foundation, which underscored critical aspects of the PIA’s implementation.
These include a substantial gender imbalance in leadership roles, a lack of comprehensive needs assessments by oil companies, and overall low awareness of the Host Community Development Trust (HCDT) framework within communities.
This crucial research highlights the need to include these groups in the broader narrative of Nigeria’s oil and gas reform.
The event featured esteemed panellists, including Dr. Orji Ogbonnaya Orji, Executive Secretary, NEITI; Mr. Dayo Okusami, Partner, Templars; Akinbambo Ibidapo-Obe, General Manager and Head of Commercial at Oando Energy Resources; Glory Alexander Thomas, Secretary Management of the Ibeno HCDT; and Eugenia Onyiriuka, Chairperson of the Board of Trustees for the Assa North HCDT.
These leaders shared valuable insights on how implementing the PIA is reshaping Nigeria’s oil and gas sector, particularly in promoting transparency, inclusivity, and environmental responsibility.
A key highlight of the webinar was the discussion about the governance challenges of the PIA. Dr Orji Ogbonnaya stated:
“The PIA is being implemented agency by agency without a coordinated, comprehensive strategy to guide the process. This is a major concern, as a stakeholders-driven, coordinated implementation plan, involving civil society, companies, and government is key to ensuring transparency and accountability. Without such coordination, agencies may avoid pushing the boundaries of transparency and accountability.”
Dayo Okusami also highlighted the critical role of transparency in the governance of the petroleum sector, noting that “Before the PIA of 2021, the last major legislation in the oil and gas sector was almost 60 years old.
The PIA represents progress, but we must focus on realistic and sustainable implementation. No law is perfect. The PIA needs time, proper implementation, and patience.”
The importance of community consultation was also underscored by Glory Alexander Thomas, who stated, “Projects without diligent consultation with the host communities tend to lead to failure.” This sentiment was echoed by Mrs. Eugenia Onyiriuka, who remarked, “The PIA has changed a lot of things, including how women are involved in community affairs”.
According to Akinbambo Ibidapo-Obe,
“The PIA presents a unique opportunity for HCDT to empower women and promote women-owned businesses as key service providers to the industry. At Oando, we are intentional about expanding our supply chain to include more women-owned businesses, ensuring they play a significant role in driving the sector forward.”
Meka Olowola concluded by emphasising CSR-in-Action’s leading role in sustainability reporting, showcasing their pioneering work in developing the first IFRS S1&S2 compliant sustainability report for a leading organisation in the oil and gas sector.
The PIA Implementation Research Report can be found here.
