The Group Managing Director of the Nigerian National Petroleum Corporation , 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.
According to Kyari, who emphasised the need for the lawmakers to move quickly in working on and passing the Petroleum Industry Bill , the proposed law would be a major game changer for the sector. He disclosed that the uncertainty in the sector created by the long delay in the passage of the PIB had led to a number of divestments from the country in the recent past.
He acknowledged the corporation’s efforts at deepening transparency and accountability, stressing that the committee was impressed with the level of professionalism exhibited by the NNPC management.
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