The Minister of State for Petroleum Resources Timipreye Sylva says the Petroleum Industry Bill (PIB) is on the verge of being passed.
The minister stated this while fielding questions from Journalists in Abuja.
The Petroleum Industry Bill (PIB) is expected to provide a legal framework for the operations of both the upstream and downstream sectors of Nigeria’s oil and gas industry.
It is also aimed at boosting oil and gas output; enhance attractiveness for international investors thereby increasing Nigeria’s Foreign Direct Investments portfolio.
The Minister said the bill is particularly urgent, given the uncertainty created by the COVID-19 pandemic.
Also Received: Host Communities Kick Against Provisions in Petroleum Industry Bill
Sylva’s optimism, however, comes at a time when some host communities in Nigeria’s oil-rich Niger-Delta region have called for a holistic review of the current document tabled before the National Assembly to genuinely address their concerns before having it passed and signed into law.
Editor: Omor Bazuaye
