Send new PIB to NASS to drive oil sector reform, expert urges FG

Mr Bank- Anthony Okoroafor, former Chairman, Petroleum Technology Association of Nigeria (PETAN) has urged the Federal Government to send the new Petroleum Industry Bill (PIB) to the National Assembly
Okoroafor in an interview with the News Agency of Nigeria (NAN) in Abuja, on Sunday said the bill was imperative to the reforms needed in the sector.
The News Agency of Nigeria recalls that the Minister of State for petroleum Resources, Chief Timipre Sylva had on July 14 announced that the PIB would be sent to the NASS in two weeks
NAN also reports that the National Assembly (NASS) said it is expecting the new PIB soon for deliberations and debate to begin on the much-awaited piece of legislation
“ It is imperative for the executive to send the bill to the NASS because timely conclusion of the ongoing industry reforms guaranteeing legislative certainty and clarity on Petroleum issues is needed now.
“ This is holding down lots of FID’s and critical investment.
“ It is important to send a signal to the market that this government is serious about the oil reform agenda.
“ The uncertainty created by the lack of passage of the reforms have significantly affected investments in the Nigerian oil and gas sector.
“ Oil is being found everywhere around the globe, time is of essence now to pass this PIB. There is no better time than now,’’ he said.(NAN)