Delay in PIB passage stifling Nigeria’s petroleum industry, says NNPC GMD

Why PIB passage is delayed

The Minister of State for Petroleum Resources, Timipreye Sylva, said the restructured PIB submitted by the present administration are broken into two – the Petroleum Industry Governance, Administrative and Host Community Bill and the Petroleum Industry Fiscal Bill . Since the withdrawal of the draft PIB sent to the National Assembly, a consortium of Civil Society Organizations led by the Nigeria Natural Resource Charter have continued the advocacy for the return of the PIB to enable the lawmakers do the needful and pass it into law, without further delay.

In a recent statement, the CSOs noted that apart from the effective operations of the upstream sector of the petroleum industry, the effective running of the downstream sector of the industry have equally suffered with the continued delay in the passage of the PIB.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Kyari: Unstable Fiscal Regime Stifling Nigeria's Petroleum Industry - THISDAYLIVE* Says non-passage of PIB scaring investors away By Emmanuel Addeh The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has said that the absence of a stable fiscal environment is inhibiting the growth of the Nigerian petroleum industry, especially the upstream sector. A statement by the corporation’s Group General …
Source: THISDAY LIVE - 🏆 14. / 51 Read more »

Investors losing confidence in Nigeria's oil, gas industry - NNPC - Daily Post NigeriaGroup Managing Director of the Nigerian National Petroleum Corporation (NNPC) Mele Kyari, says the absence of a stable fiscal environment is inhibiting
Source: DailyPostNGR - 🏆 11. / 59 Read more »