By Newspot Nigeria News Desk
—Stakeholders demand transparency, community inclusion
Uyo — The Akwa Ibom State House of Assembly has taken a significant step toward reshaping the state’s energy landscape by holding a public hearing on the Bill for a Law to Establish the Ibom Oil and Gas Corporation and for Other Purposes Connected Thereto. The well-attended session, hosted by the House Committee on Petroleum Matters, took place on Wednesday, August 6, 2025, at the Old Chapel of the Assembly Complex in Uyo.
The event brought together key stakeholders from across the petroleum sector, civil society, and the investment community to deliberate on the proposed legislation. Declaring the session open, the Speaker of the 8th Assembly, Rt. Hon. Udeme Otong—represented by Hon. Dr. Nsidibe Akata (Eket State Constituency)—highlighted the importance of gathering public opinion to shape a bill that reflects the interests and expectations of Akwa Ibom people.
“The Bill seeks to create a corporate entity that will help us harness and take full advantage of our petroleum resources,” Otong said. “It will have perpetual succession and a distinct legal framework to drive the state’s economy.”
Chairman of the House Committee on Petroleum Matters, Hon. Engr. Udobia Friday Udo (Esit Eket/Ibeno Constituency), explained that the proposed corporation would engage in upstream oil and gas activities including exploration, drilling, and production—even in abandoned wells within Nigeria and overseas. He added that it would also invest in downstream activities such as gas processing, petroleum retailing, pipeline deployment, and refinery operations.
Representing the Hon. Commissioner for Environment and Natural Resources, Permanent Secretary Iquo Abia, Esq., emphasized the bill’s alignment with Governor Umo Eno’s Arise Agenda. She stated that the corporation would play a “pivotal role in the energy sector,” generate revenue, stimulate employment, and attract both local and foreign investment.
The Leader of the House, Rt. Hon. Barr. Otobong Bob (Nsit Ubium), urged stakeholders to offer concrete recommendations that would strengthen the legislation in line with democratic principles. “We need solutions that capture the minds of the people and ensure the bill works for everyone,” he said.
A representative of the Akwa Ibom Investment Corporation also expressed strong support for the initiative, stating that it would promote state-led investments and ensure government participation in profitable ventures.
Civil society groups present—including Ibom Peer Foundation, Vital Partner for Development, and Ibeno Elders Forum—called for robust transparency and accountability provisions in the bill. They also advocated for the inclusion of oil-producing communities in the governance structure of the proposed corporation.
As deliberations continue, the Assembly has pledged to consider all submissions before passing the bill into law.
Newspot Nigeria will continue to follow developments on this legislation and its implications for the state’s economic future.
FULL STATEMENT RELEASED BY AKWA IBOM STATE HOUSE OF ASSEMBLY INFORMATION UNIT
AKHA HOLDS PUBLIC HEARING ON IBOM OIL AND GAS CORPORATION LAW BILL
by Williams Akpabio
In fulfillment of its mandates, the Akwa Ibom State House of Assembly on Wednesday 6th August, 2025 conducted a Public Hearing on a Bill for A Law to Establish Ibom Oil and Gas Corporation and for other purpose connected thereto.
The well attended Public Hearing organized by House Committee on Petroleum Matters took place at the Old Chapel of the Assembly, Uyo.
Declaring the event open, the Speaker of the 8th Assembly, Rt. Hon. Udeme Otong who was ably represented by Hon. Dr. Nsidibe Akata, member representing Eket State Constituency said that the essence of the event was to gather public opinions and concerns from critical stakeholders in petroleum sector in giving the Bill its proper lawmaking which is the cardinal responsibility of legislature.
The Speaker further reiterated that the Bill is aimed primarily at harnessing and taking full advantage of the natural endowment as a state in the petroleum resources, and shall be a body corporate with perpetual succession and its common seal with a distinct framework to drive the state economy.
Earlier in his address, the chairman House Committee on Petroleum Matters, Hon. Engr. Udobia Friday Udo and member representing Esit Eket/Ibeno State Constituency avowed that the Bill when passed into law will engage in all oil and gas upstream activities including Exploration, Drilling and production in prospecting abandoned well anywhere in Nigeria or overseas.
Udobia also disclosed that the Bill will enact policies of the corporation to invest in downstream oil and gas activities including gas processing, petroleum products retailing, gas retailing, gas pipeline deployment, acquisition of petroleum products tank farm as well as investing in refineries, petrochemical processing and other distribution facilities.
In his keynote address, the Hon. Commissioner for Environment and Natural Resources who was represented by Permanent Secretary of his ministry Iquo Abia Esq. said that the Bill when passed into law will play a pivotal role in energy sector and promote the arise agenda policy trust of His Excellency Pastor Umo Eno by projecting upstream and downstream petroleum section, generate revenue and boost employment opportunities and also attract local/Foreign investment the state.
In a brief remarks, the leader of the state Assembly, Rt. Hon. Barr Otobong Bob member representing Nsit Ubium State Constituency encouraged stakeholders to always proffer possible solutions during public hearing to ensuring that Bills are properly legislated to capture public minds in line the democratic principles of the Assembly.
Consequently, another keynote address came from the Managing Director, Akwa Ibom Investment Corporation drumming their support for the Bill said their responsibility is to promote state investment and ensuring that all government investments are profitable.
The Commissioner also added that establishing the Ibom Oil and Gas Corporation will enhance responsible operation and accountability in the sector, provide regular supply of petroleum products and ensure environmental security among others.
Others who made their contributions were representatives of several Civil Society Organizations including the Executive Director, Ibom Peer Foundation, Mr. Mfon Gabriel of Vital Partner for Development, Barr. Diamond Akpanika of Ibeno Elders Forum, etc.
However, the presenters in their separate speeches sought for legislation that will ensure transparency and accountability of the state oil and gas corporation as well as inclusion of the indigenes of oil communities in the board.
Information Unit
Akwa Ibom State House of Assembly
For publication by Newspot Nigeria
