FG to Review PIA Implementation in December

Agency Report

The permanent secretary of the ministry of petroleum resources, Gabriel Aduda, says the ministry plans to review the implementation of the Petroleum Industry Act (PIA).

This, he said, would be with stakeholders in the upstream and downstream sectors after two years of its implementation.

Mr Aduda disclosed this at the ongoing Oil Trading and Logistics Africa Week 2023 on Tuesday in Lagos.

He called on operators in the Nigerian downstream sector to work together and pool resources to invest in refining petroleum products to address the country’s energy crises.

The official stressed that the quality of technology possessed by the operators should not be a barrier to investment in refining.

According to him, the review will identify the pros and cons of the act and all 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.

“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,” Mr Aduda said.

NAN