Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


PIB will transform oil and gas sector

02 July 2012, 14:41

The NNPC said that the recently submitted draft Petroleum Industry Bill (PIB) would go a long way in transforming operations in the oil and gas industry if passed into law.

Mr Fidel Pepple, the acting Group General Manger, Public Affairs Division of NNPC, said on Monday in Abuja.

The Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, had on Friday presented the draft bill to President Goodluck Jonathan after about six months of review by a special task force.

Pepple described the presentation of the draft bill to the President, as a major step toward the eventual passage of the bill.

He said that the minister was committed to pushing for the speedy passage of the bill in view of the professionalism and transformation it would enthrone in the industry.

He added that the minister had ensured that stakeholders contributed their quota in order to have a holistic bill that would
stand the test of time.

``This bill will go a long way in transforming the sector and that is why the minister is concerned about presenting a holistic document,’’  he said.

Pepple urged stakeholders in the sector and members of the National Assembly to continue to build synergy for quick passage of the bill.

The PIB, which had been engulfed in controversies and delay, is expected to herald a new era of reform and world class industry for the nation.

The bill is expected to usher in a new operational and fiscal term for revenue management so that government can retain a higher proportion of the revenues derived from operations in the petroleum industry.



Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...