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Senate Investigates Poor Implementation Of PIA

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The Senate has commenced investigation into the poor implication of the Petroleum Industry Act (PIA).

The red chamber has mandated its committees on Petroleum , Down Stream, and Gas to conduct a holistic investigation into the implementation of the Petroleum Industry Act , with regard to the potential exits of International Oil Companies from Nigeria.

Leading the debate on the motion, Bassey noted how the discovery of gas and oil in commercial quantities in Nigeria led to the entry of international oil companies , in Nigeria with the intention of advancing the sector’s exploration, development, and production.According to him, “the IOCs went into Joint Venture , contracts with the federal government through the NNPC .

 

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