Minister of the Federal Capital Territory , Nyesom Wike, yesterday said the Petroleum Industry Reform Act , has opened the door to greater investment, innovation, and job opportunities inThe Minister also said the Act represents a watershed moment in the nation’s history, stressing that with its passage, the country has laid the groundwork for a more transparent, efficient, and competitive petroleum industry.
The Minister who was represented by the FCT Minister of State, Dr. Mariya Mahmoud, noted that the true impact of the Act would be realized through effective implementation. “As representatives of the people, it is incumbent upon us to ensure that the provisions of this Act are translated into tangible benefits for all Nigerians.
While noting that the imperative of tax reform and modernization could not be overstated, the nation’s tax system must evolve to reflect the dynamic nature of the economy and the realities of the 21st century.