PIA: Nigerian govt rules out job cut in petroleum industry

The Minister of State for Petroleum Resources, Timipre Sylva, on Wednesday allayed fears of job cut in the nation’s petroleum sector following the signing of the Petroleum Industry Act (PIA).

President Muhammadu Buhari signed the law on Monday.

The law provides a legal, regulatory and fiscal framework for the Nigerian petroleum industry, the development of host communities, and related matters.

There were insinuations that the new law would lead to job cut in the nation’s oil and gas industry.

Sylva, who addressed State House correspondents at the Federal Executive Council (FEC) meeting in Abuja, insisted that the law would create the enabling environment for creation of more jobs in the industry.

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He said: “We have already made provisions in the law to ensure that no job is lost in the oil industry as a result of the Act.

“So, no job will be lost as a result of the Petroleum Industry Act. All jobs in the petroleum industry will be intact.

“That was already taken into account, we discussed with labour extensively in the process of drafting the bill.”

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