Vice President Yemi Osinbajo says the Petroleum Industry Act PIA, as well as Nigeria’s gas initiatives, will help transform Nigeria into a gas-based industrialized nation.
The vice president said the PIA would also create a better-managed petroleum industry with more value addition for both investors and Nigerians alike.
Osinbajo’s Spokesman, Laolu Akande, in a statement in Abuja, said the vice president spoke at a virtual event to commemorate the 25th anniversary of Sahara Energy Group.
President Muhammadu Buhari, on August 16, signed the Petroleum Industry Bill PIB 2021 into law.
Buhari had also approved a steering committee to oversee the process of implementation of PIA. The gas initiatives of the Federal Government include the drive to encourage investments in gas production and optimize the nation’s enormous gas potential
