Niger Delta leaders on Friday highlighted the gains of the Petroleum Industry Bill (PIB), declaring the passage by the 9th National Assembly as a pointer to Nigeria’s path to greatness and development.
In a statement in Port Harcourt, the leaders described the passage of the complete version of the Petroleum Industry Bill as another landmark of President Muhammadu Buhari’s administration.
“It is another benchmark for ensuring transparency and accountability in the oil and gas industry. We see a country on the point of incredible achievement and advancement. It is a good development that is capable of yielding a beneficial outcome,” the leaders said.
The leaders commended the efforts of President Buhari, the Minister of State for Petroleum Resources, Chief Timipre Sylva, and the 9th National Assembly lawmakers in repositioning of Nigeria’s oil and gas industry.
“This is another benchmark set in Nigeria, in a crucial sector that is key to Nigeria’s economic growth and stability.”
The statement signed by the Chairperson of the Niger Delta People’s Movement (NDPM), Mrs. Ibifuro Tatua, expressed the region’s hope in the ability of the stakeholders in the oil and gas sector to take full advantage of the current development.
The bill, the group said, underscored global competitiveness and best practices, restructuring of institutions and local and foreign investments.
The leaders implored the Federal Government to make the best of it because it gives the international community an assurance that “Nigeria has provided a strong legal and policy framework as well as an enabling environment for investment,” adding: “The passage of the Petroleum Industry Bill will help the business image of Nigeria in the international scene.”
The statement also emphasized the commercialization of the Nigerian National Petroleum Corporation (NNPC), establishment of new regulatory bodies and 3% profits from oil companies to host communities.
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