The Minister of State for Petroleum Resources, Chief Timipre Sylva, has expressed optimism that the Petroleum Industry Bill (PIB), before the National Assembly, would open up the petroleum sector for greater investments and guarantee more transparency in operations when passed into law.
The minister said this on Thursday in Abuja when the Board of Trustees (BoT) of Corruption Reporters led by Dr. Yunusa Tanko honoured him as the Champion of the Anti-Corruption fight, particularly for his leadership in promoting transparency in the petroleum industry.
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“The Petroleum Industry Bill which as you know has been laid in both chambers and we are hoping that the law will be passed; that, of course will allow us to entrench the principles of transparency in our industry and will allow this industry to move from where it is, to where we desire it to be,” Sylva said.
This is as he also said that corruption in Nigeria takes place at three levels; at the point of revenue collection, the treasury, and contract execution.
He said that but with introduction of the Treasury Single Account (TSA), the practice has been significantly curtailed at the revenue collection and treasury levels but still striving at the level of contract implementation, thus eliminating it at the third level is the responsibility of everyone by reporting sharp practices to the appropriate authorities.
The minister also explained how the TSA has eliminated sharp practices in the industry.
“I am particularly honoured by this award. I commend the Corruption Reporter’s for checking the records from afar and encouraging me in the fight against corruption. I received a boost from President Muhammadu Buhari’s leadership through initiative such as the Treasury Single Account (TSA).
“For instance, before the coming of the present administration, the government had over 90 accounts opened for the deposit of revenues. This administration has been able to control corruption at that level with the introduction of TSA, where all payment of government revenues by ministries, departments and agencies are paid into just one account.
“Today, no more can government monies be swallowed by any snake. Today, if money is earned, it is paid directly into government accounts through the TSA. Those entrusted with the management of the monies, like permanent secretaries of ministries and other civil servants who award contracts, cannot have access to those monies as was the case in the past,” he added.
He said President Buhari’s leadership would ensure that the petroleum industry continue to adopt best practices for the advantage of the populace.
Speaking on behalf of the team separately, Mrs. Adaora Onyechere, Dr. Yunusa Tanko and Mojeed Dahiru said that Chief Timipre Sylva had justified the confidence reposed in him by President Muhammadu Buhari in leading the Petroleum Industry to fight corruption, institute transparency and accountability.
They said that certain initiatives by the Ministry and its agencies like the publication of the NNPC audit reports for the first time in 43 years, the National Gas Expansion Programme (NGEP), Ajaokuta-Kaduna-Kano gas pipeline project and the signing of Final Investment Decision for NLNG Train 7 among others had demonstrated that the Minister of state had contributed to the growth of the industry.
