Former Minister of Petroleum Resources, Mr. Odein Ajumogobia , has called for the speedy passage of the Petroleum Industry Bill , warning that continuous delay is negatively affecting Nigeria’s efforts to attract investment in the sector and also ensure optimal management of the country’s oil and gas resources.
He said that the delay in the passage of the PIGB has hampered Nigeria’s oil and gas resources full maximisation. According to him, Nigeria needs better oil and gas management and only a legal framework can help achieve that. Speaking on the need for deeper sector reforms, Ms Tengi George-Ikoli, Programme Coordinator, NNRC, said that with the rate neighbouring countries are discovering crude oil and gas, if Nigeria keeps procrastinating, investors will have no option than to seek for alternative investment elsewhere, leaving Nigeria.
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