Oil and Gas sector undergoing unprecedented revival – Abbas hails Tinubu’s reforms

By Christiana Ekpa

The Speaker of the House of Representatives, Rt Hon. Tajudeen Abbas, has said that the oil and gas industry, especially the downstream sector, is witnessing an unprecedented revival under the progressive leadership of President Bola Ahmed Tinubu, GCFR.
The Speaker who stated this on Monday while declaring open the first annual downstream petroleum week, stated that the Renewed Hope Agenda of President Tinubu’s administration is reforming and revitalizing key sectors of the economy
Represented by the Deputy Speaker, Rt. Hon. Benjamin Kalu, PhD, CFR, the Speaker noted that the conference, themed “Celebrating Our Successes, Confronting Our Challenges and Finding Solutions for the Petroleum Downstream Sector,” is remarkable and a timely reminder that Nigeria is full of success stories, and that the challenges are not insurmountable and with this kind of collaboration, quality assurance and self-evaluation by critical stakeholders, solutions are bound to emerge.
He said that the effective take-off of the Dangote Refinery marked a turning point in the nation’s quest for energy self-sufficiency.
He also said the anticipated emergence of other private indigenous refineries underlines the need for the National Assembly to continue to create a functional environment for industries to thrive.
Abass said the outcome of conferences such as this not only make the laws the parliament makes more pertinent and productive, but ensures that it will receive the avid cooperation and support of industry leaders.
The Speaker therefore urged the stakeholders to come up with innovative and creative solutions that will revamp the petroleum downstream sector, contribute to the overall development of the economy and positively impact the country as a whole.
He said, “I am delighted, and excited to welcome you all to the First Annual Downstream Petroleum Week organised by the House Committee on Petroleum Resources(downstream) in partnership with the Federal Ministry of Petroleum Resources and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). As I look around at the quality of representation here, I feel confident that this event will become one of the most defining moments in the evolution of the downstream petroleum sector. Our hope is that as thinkers, innovators, workers and policy advocates, your collaboration will finally reshape the industry, setting agenda for growth, transparency and sustainable practices.