Don rates oil sector high in transparency

By Yetunde Bada

Prof. Wunmi Iledare, President of National Association of Energy Economists, on Thursday said Nigeria’s oil and gas sector recorded improvement in transparency and accountability in the past two years.

Iledare, who assessed the sector during the period, however, told the News Agency of Nigeria (NAN) in Abuja that oil and gas operations had remained unfortunately, personality-driven, and advised that it should be institution-operated.

“There is certainly a great improvement in terms of transparency and accountability. I am not sure there is much to write home about in terms of governance.

“As far as I am concerned, the oil and gas sector as per governance is still personality-driven rather than being institutionally-driven.

“I am hopeful that the passage of the Petroleum Industry Governance Bill by the Senate will help, if the House of Representatives follow suit quickly before the politics of 2019 sets in,’’ he said.

On power sector, Iledare, a professor of petroleum economics and policy research, expressed disappointment over how the Federal Government was addressing challenges in the sector.

“I am disappointed in the way the Ministry of Power addresses the challenges of the power sector.

“It should not be about scoring a political point. I think the power ministry should not look at National Electricity Regulatory Commission (NERC) as its extension.

“I hope NERC commissioners will exert their independence from the Ministry of Power. This will go a long way to face challenges squarely,’’ he said.