The 8th Senate is poised to getting the Petroleum Industry Governance Bill passed and in lieu of this, the Senate joint committee on Petroleum Resources meets in Uyo, Akwa Ibom State today to brain storm further on the subject.
The objectives of the PIGB include :the establishment of framework for the creation of commercially oriented and profit driven petroleum entities that ensures value addition and internalization of the petroleum industry; creation of a conducive business environment for the petroleum industry operations; promotion of transparency and accountability in the administration of the petroleum resources of Nigeria.
This bill which has passed the 1st and 2nd readings is expected to be finalized and submitted in March 7th,after this review with the Joint committee during the retreat .
I am grateful to my colleagues for their trust and thank you Akwa Ibom performing Governor, Mr Udom Emmanuel for hosting this large delegation of 70 Distinguished Nigerians.
My assurance to Nigerians is that things will soon get better in our Oil and Gas industry and our country will be better in terms of driving the maximum value from our oil and gas resources.