A legislative proposal seeking to establish a statutory governing board for the Petroleum Technology Development Fund has passed its first reading in the House of Representatives, setting the stage for a review of the institution’s governance structure.
The bill, jointly sponsored by Fatoba Olusola (APC-Ekiti) and Adeyemi Adeniyi (APC-Oyo), was presented during Wednesday’s plenary. It seeks to establish the composition, responsibilities, powers and tenure of members of the proposed board, with the aim of strengthening institutional supervision and governance.
Beyond providing a formal leadership structure, the proposed legislation is designed to improve administrative efficiency, financial discipline and accountability in the execution of the PTDF’s statutory responsibilities. The fund’s mandate centres on developing skilled manpower, advancing technology and strengthening indigenous expertise within Nigeria’s petroleum sector.
Explaining the rationale behind the initiative, Mr Olusola said the absence of a legally constituted governing board had created concerns regarding institutional oversight, accountability, inclusive representation and long-term sustainability. He recalled that the PTDF was established to build a competent indigenous workforce capable of meeting the technical and professional demands of Nigeria’s petroleum industry.
He noted that the institution contributes to workforce development through professional training, research funding, technological innovation and capacity-building initiatives, all intended to strengthen local expertise and reduce the country’s reliance on foreign professionals.
According to the lawmaker, an institution entrusted with responsibilities of such national importance requires a governance framework that reflects the breadth of its mandate and accommodates the interests of the federation. He observed that the existing arrangement permitted the fund to function without a statutory management board, leaving considerable administrative and executive responsibilities concentrated in the office of the executive secretary.
Although recognising the executive secretary’s role in managing the institution’s daily operations, Mr Olusola argued that establishing a governing board would introduce an additional layer of supervision and strategic leadership. He said the proposed arrangement would encourage shared decision-making, strengthen policy oversight, improve accountability and ensure more effective institutional management.
He further identified balanced representation of the country’s six geopolitical zones as a central feature of the proposed legislative intervention. According to him, the amendment would reinforce the federal character principle by ensuring that national institutions reflect Nigeria’s diversity and provide opportunities for participation across the different regions.
Mr Olusola also linked the proposed changes to the broader governance agenda of President Bola Tinubu’s administration, particularly its emphasis on transparency, institutional accountability and the prudent management of public resources.
“Good governance is not measured only by the performance of individuals occupying public offices. It is equally measured by the strength of the institutions they administer,” he said.
The lawmaker maintained that sustainable public administration depends on clearly defined responsibilities, openness in decision-making and effective oversight arrangements capable of preserving institutional stability beyond the tenure of individual officeholders.
“Nigeria’s development ambitions require institutions that are stronger than individuals, structures that promote accountability and governance systems that reflect the collective interests of the federation,” he said.
If approved by both chambers of the National Assembly and subsequently assented to by the president, the proposed amendment would establish a formal statutory foundation for the PTDF governing board, potentially reshaping the fund’s leadership, oversight and administrative framework.
