NUPRC, NMDPRA to recommend PIA amendments for incoming govt
International and indigenous operators, yesterday, decried poor implementation of the Petroleum Industry Act (PIA), insisting overlapping regulations in the Act remain a disincentive.
This is coming as Minister of Justice and Attorney General of the Federation, Abubakar Malami, asked the Federal Government to close the controversial Oil Prospecting License (OPL) 245, which has been marred by fraud.
Also, Vice President Yemi Osinbajo noted that the country must take advantage of its rich energy resources to deliver energy security, amid growing poverty and widening energy deficit.
For most stakeholders gathered at the Nigeria International Energy Summit in Abuja, sincerity on the part of government is still lacking in addressing existing challenges facing the energy sector.
The experts, who noted the need to raise over $100 billion,…
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