PIA will boost oil, gas investments in Nigeria: Sylva

The Minister of State Petroleum Resources, Timipre Sylva, says the desire to surmount the challenges bedevilling the oil and gas sector led to enacting the Petroleum Industry Act (PIA).

Mr Sylva spoke at the Nigeria International Economic Partnership Forum, in New York, with the theme ‘Nigeria’s Oil and Gas Sector: Reforms, Results and the Road Ahead’.

In a statement on Thursday, the minister said President Muhammadu Buhari regime’s desire to inject life into the sector characterised by fiscal and operational challenges led to making proactive reforms a priority. The minister added that enacting the PIA on August 16, 2021, was a “watershed.”

He said it signalled the beginning of a more conducive environment for investment, output, and industrial and national growth while also addressing legitimate grievances of resource host communities most impacted by resource extraction operations.

At full implementation, he said the PIA 2021 would create…

Leave a Reply

Your email address will not be published.

Tinubu Meets Aregbesola, Other Osun APC Chieftains In Abuja

Amazon, Microsoft, Google under probe for alleged anticompetitive behaviour