Minister of State for Petroleum Resources Timipre Sylva says the implementation of the Petroleum Industry Act (PIA) will kick off soon and has called for partnership among the agencies of the ministry and key stakeholders as.
Sylva made the call in Yenagoa, Bayelsa State, during the 10th edition of the annual Practical Nigerian Content (PNC) Workshop organised by the Nigerian Content Development and Monitoring Board (NCDMB).
The minister requested that all hands must be on deck to develop the nation’s hydrocarbon resources efficiently to enhance national revenue and optimise value-adding activities in-country.
Sylva said: “Signing the bill into law in August is a watershed event in the annals of Nigeria’s petroleum industry which has literally rolled away the cloud of uncertainty that has hindered investments into the industry for so long.
“Hence, we took quick and decisive steps by establishing the Board of the NNPC Limited, constituted the management teams for the Nigerian Upstream Petroleum Regulatory Commission and the Nigerian Midstream and Downstream Regulatory Authority.
“Government expects that with the PIA now in place and supported by the enabling structures to ease doing business, new Final Investment Decisions (FIDs) should begin to happen rapidly in the Nigerian oil and gas industry.”
He praised the Executive Secretary of the board, Engr. Simbi Wabote, for the things he had achieved with the board and sincerely hoped that the conference would continue to evolve in the coming years.
Adesina added that the government of President Buhari had also adopted a strategic action to immortalize Oloibiri and industrialise Bayelsa State through the establishment of the Oil and Gas Museum and Research Centre in Oloibiri, presently being developed jointly by NCDMB, the Petroleum Technology Development Fund and Shell Petroleum Development Company (SPDC) and the Bayelsa State Government.
Bayelsa State Governor Douye Diri in his speech, said there was the need to re-engage and build trust across all fronts if local content must lead to local contentment.
