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Exit of IOCs from Nigeria: Senate to probe implementation of PIA

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The Senate has mandated its Committee on Petroleum Upstream, Downstream and Gas to conduct a holistic investigation on the implementation of the Petroleum Industry Act (PIA) with regards to potential exit of International Oil Companies (IOCs) from Nigeria.

This followed a motion brought before it by the Senator representing Akwa Ibom North-East Senatorial District, Senator Aniekan Bassey, entitled, 'Urgent Need for Enquiry into Implementation of the Petroleum Industry Act 2021 with Regards to Potential Exit of International Oil Companies from Nigeria: Case of ExxonMobil in Akwa Ibom State' during plenary on Thursday.

Senator Bassey, therefore, prayed the Senate to get involved in the processes regarding the exit of ExxonMobil in Akwa Ibom State as it cannot be left in the hands of the NNPC and other regulators alone rather, all stakeholders should be involved for the purpose of mapping, profiling, marking up, inventorizing, and analysing what ExxonMobil was doing in the oil-producing states and host communities.

 

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