‘Suspension of PIA will deepen uncertainties in downstream sector’ | The Guardian Nigeria News


The Chairman, Major Oil Marketers Association of Nigeria (MOMAN), Olumide Adeosun, has stated that the Federal Government’s suspension of the Petroleum Industry Act (PIA) would create more uncertainties in the nation’s downstream sector.

Adeosun stated this on the sidelines of MOMAN’s subsidy workshop for journalists.

He urged the present administration to be consistent with formulating policies so as not to send wrong signals to potential local and foreign investors.

According to him, the suspension of the PIA came as a surprise to the association, but stated that MOMAN is yet to consult with the Federal Government formally as to why the decision was made, maintaining that two senior level meetings would be held during the week to discuss a way forward with the Federal Government.

He added that the association is currently seeking to consult with the Ministry of Petroleum Resources, the Nigerian Midstream and Downstream Petroleum Regulatory Authority and other industry…

Source: Guardian Newspaper