Reps Move to Establish PTDF Governing Board

The House of Representatives has commenced legislative moves to establish a statutory Governing Board for the Petroleum Technology Development Fund (PTDF) to improve governance, accountability and strategic direction within the agency.

A bill seeking to amend the Petroleum Technology Development Fund Act, Cap. P15, Laws of the Federation of Nigeria, 2004, was introduced and read for the first time during Thursday's plenary.

The proposed legislation, sponsored by lawmakers Olusola Fatoba and Adeyemi Adeniyi, seeks to provide for the composition, functions, powers and tenure of board members, while strengthening institutional, administrative and financial oversight of the fund.

The sponsors said the amendment was designed to address a longstanding gap in the PTDF's governance structure and introduce stronger mechanisms for transparency, accountability and equitable representation.

They argued that an institution responsible for developing indigenous manpower and technological expertise for Nigeria's petroleum industry required a statutory governing structure capable of providing strategic direction and independent oversight.

Under the proposed arrangement, the board would provide an additional layer of supervision over the fund's operations, complementing the administrative and executive responsibilities of the Executive Secretary.

The bill also seeks to ensure equitable representation of Nigeria's six geopolitical zones in the board's composition, in accordance with the federal character principle.

The PTDF is responsible for developing local capacity in the oil and gas industry through scholarship programmes, professional training, research support and technological advancement.

Its mandate also includes reducing Nigeria's dependence on foreign expertise by developing skilled professionals to meet the technical requirements of the petroleum sector.

The lawmakers maintained that the absence of a statutory governing board raised concerns about institutional oversight, inclusiveness and the long-term sustainability of the fund's administrative structure.

They added that the proposed reform would strengthen institutional checks, improve decision-making transparency and establish a clearer framework for strategic planning and accountability.

The bill is expected to return to the House for second reading, where lawmakers will debate its general principles before possible referral to a relevant committee for further legislative consideration.