Permanent Secretary, Ministry of Petroleum Resources, Nasir Sani- Gwarzo, says the effective implementation of the Petroleum Industry Act PIA was pivotal to its value addition to the Nigerian economy.
Sani-Gwarzo stated this at the Nigeria Oil and Gas Outlook with the theme: ‘Achieving Energy Security: The Engine for Secured Economic Growth’, on Monday, in Lagos.
Sani-Gwarzo noted that the signing of the PIA by President Muhammadu Buhari on August 16 was aimed at attracting investments to the industry.
According to him, the PIA seeks to incentivise optimality cost-efficiency and cost-effectiveness in oil production.
He expressed confidence that Nigeria was on course in its alignment with the global quest to transit to cleaner energy for the sustainable future, using its abundant gas resources as a bridge fuel between the fossils of today and the renewable energy of tomorrow.