Emmanuel Addeh in Abuja
The Permanent Secretary, Ministry of Petroleum Resources, Gabriel Aduda, has stated that the Petroleum Industry Act (PIA) passed in 2021 would help reposition the Nigerian oil and gas industry.
Aduda made the remark while receiving a delegation from a Non-Governmental Organisation (NGO), the Oloibiri Oil and Gas Entrepreneurship Development Initiative (OLOGEDI), according to a statement by the Director of Information, Mrs. Enefaa Bob-Manuel.
The PIA, according to the permanent secretary, though a desirable document, has in the course of the implementation of the provisions of the act, thrown up observed flaws, gaps and inadequacies which are being looked into.
Consequently, the ministry , he said, would coordinate all of the activities with a view to initiating the process of amendments to the concerned sections of the act in order to entrench a better oil and gas industry.
Speaking on the impact of the PIA to the host communities, Aduda posited that specific provisions in the act had given impetus to the oil producing areas. He noted that the PIA was robust with its engagements with the host communities in the areas of funding through the Host Communities Development Fund (HCDF), and in ensuring the participation and inclusion of the locals.
The permanent secretary reiterated that the ministry has the mandate of policy formulation, supervision, and monitoring and evaluation of the oil and gas industry in Nigeria.
