Iledare Faults Tinubu’s Selective Implementation of Petroleum Industry Act
Renowned petroleum economist, Professor Omowumi Iledare, has criticised President Bola Ahmed Tinubu’s selective implementation of the Petroleum Industry Act (PIA), warning that it undermines transparency and governance principles in Nigeria’s oil sector.
In a statement titled “PIA and the Peril of Executive Discretion,” Iledare faulted the government’s delay in reconstituting the governing boards of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), both of which were dissolved upon Tinubu’s assumption of office.
He noted that while new boards have been appointed for the Nigerian National Petroleum Company Limited (NNPC Ltd.) and the NMDPRA’s Infrastructure Fund, the regulatory authorities themselves remain without statutory boards — a contradiction that weakens institutional independence.
“This inconsistency undermines the very governance principles the PIA was designed to entrench,” Iledare said. “Selective compliance with the law erodes public trust and tilts governance toward executive absolutism.”
He urged the administration to align its actions with the intent of the PIA, stressing that “true leadership must remain anchored in law, not convenience.”
Signed into law in 2021, the PIA was designed to reform the petroleum sector through transparency, investment attraction, and accountability. Iledare warned that deviating from these principles risks reversing the progress made since its enactment.
