Nigerian govt to review implementation of PIA in December

The Federal Government says the Ministry of Petroleum Resources will review the implementation of the Petroleum Industry Act (PIA) along with stakeholders in the upstream and downstream sectors after two years of its enactment.

The Permanent Secretary in the ministry, Gabriel Aduda, who disclosed this at the ongoing Oil Trading and Logistics Africa Week 2023 in Lagos on Tuesday, urged operators in the downstream sector to come together and pool resources to invest in refining petroleum products to address the country’s energy crises.

According to the Permanent Secretary, the review of the PIA would identify the advantages or otherwise of the Act and the areas that need to be addressed.

“The review is expected to be held before the second week of December 2023, where all oil and gas industry players will gather to discuss all the fundamental issues that need to be addressed in the Act,” Aduda said.

Read also: Bayelsa Gov, Diri, calls for amendment of PIA, says it’s a time bomb

“It is crucial for all players in the oil and gas industry to embrace the spirit of synergy, adding that the energy landscape is rapidly evolving,” he added.

Aduda further noted that it was the responsibility of the players in the downstream sector of the oil and gas industry to shape a future where energy is clean, accessible, and equitable for all.

“While much attention has been focused on the upstream sector – exploration and production- in discussions about energy transition, the downstream sector, which involves refining, distribution, and marketing of petroleum products, plays a crucial role in this transition,” he explained.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now