SGF Applauds Passage of Oil and Gas industry Act

Olawale Ajimotokan

The Secretary to the Government of the Federation, Boss Mustapha, has applauded the reforms being undertaken by the federal government in the oil and gas industry.

He said the initiative would place the country on the trajectory of sustainable economic development.

The SGF disclosed this yesterday when Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC), Muhammad Sanusi Barkindo, paid him a courtesy visit in his office.

He said the Federal Government under the leadership of President Muhammadu Buhari has achieved a milestone in the passage of the Petroleum Industry Act (PIA), describing it as a dream hitherto unfulfilled despite various unsuccessful attempts to enact the law in the sector.

“We have shared this afternoon some of the great feats that Nigeria has achieved particularly dealing with the oil and gas industry.

He commended the government for its ability to have the PIA signed into law.

“The last time we had this exercise was in 1969- from 1969 to date nothing has happened dramatically in the oi and gas industry. The Act has brought to fore the liberalization of the oil and gas industry. I believe with the time limit of one year from its implementation, we would be able to see the accruable benefits to the Nigerians”. Mustapha said.

He said that despite the challenges posed by the outbreak of the Covid-19 pandemic, the federal government was able record modest achievements by constituting the Presidential Task Force on Covid-19, which metamorphosed into the Presidential Steering Committee on Covid-19 and thus provided the roadmap for the Economic Sustainability Plan.

The SGF noted that the policy has helped Nigeria to exit recession in a record time with more than five per cent growth in the economy.

He further asserted that Nigeria would collaborate with OPEC so as to get the necessary support and guidance in the implementation of the Act for economic sustainability and growth.

Speaking earlier, the Secretary-General of the Organisation of the Petroleum Exporting Countries (OPC), Muhammad Sanusi Barkindo, congratulated Nigeria for exiting recession thus guaranteeing steady growth in economic development.

He commended the efforts of the chairman of PSC on Covid-19 for providing purposeful leadership in the containment of the pandemic in the country through adopting appropriate strategies in line with international best practices.

He noted that the passage of Petroleum Industry Act which would open a new vista for the oil and gas sector of the Nigerian economy.