Table of Contents
- Commitment to the Petroleum Industry Act
- Global Interaction for Investment
- Opportunities in the Oil and Gas Sector
- Commendations to Nigerian Citizens
The Speaker of the House of Representatives, Abbas Tajudeen, has reassured global investors in Nigeria's oil and gas sector of the country's dedication to upholding the Petroleum Industry Act (PIA), fostering a collaborative business environment that will enhance the production of petroleum products.
This information was shared by Alhassan Ado Doguwa, Chairman of the House Standing Committee on Petroleum Resources (Upstream), during his participation at the global conference on Project 1MMBOPD Incremental Production of Oil in the Nigerian Petroleum Sector, which took place at the Dorchester Hotel in the Central Business District of London, United Kingdom, on Tuesday.
Doguwa stated that the forum serves as a global platform for potential investment partners in Nigeria, focusing on increasing oil production in the nation's upstream sector.
“This presents a significant opportunity in Nigeria's oil and gas sector. As a legislative body, we have assured prospective investors of our unwavering commitment to promoting and safeguarding the integrity of the PIA as the fundamental legal framework governing the oil and gas industry,” he remarked.
He further expressed, “We are confident that this business initiative, organized by the NUPRC, aligns perfectly with the 10th House of Representatives Legislative Agenda and, most importantly, the Renewed Hope economic strategy of President Bola Ahmed Tinubu.”
“We sincerely hope that this unprecedented forum will serve as a reliable gateway to the Nigerian oil and gas industry.”
Doguwa conveyed the Speaker of the National Assembly's heartfelt commendations to the Nigerian populace, assuring them of the legislative chamber's commitment to fostering a conducive and sustainable environment for business development.
What is the Petroleum Industry Act (PIA)?
The Petroleum Industry Act (PIA) is a legal framework established to regulate the oil and gas industry in Nigeria, aimed at promoting transparency and sustainability in the sector.
What was the purpose of the global conference on Project 1MMBOPD?
The purpose of the global conference on Project 1MMBOPD was to engage with prospective investment partners and discuss strategies to increase oil production in Nigeria's upstream sector.
How does the Nigerian government plan to support investors in the oil sector?
The Nigerian government, through its legislative institution, is committed to promoting a stable and viable business environment that supports investment in the oil and gas sector.
