Oil industry losing investments to non-passage of PIB – Okowa


By Ifeanyi Olannye

Gov. Ifeanyi Okowa of Delta, on Monday, said the nation’s oil industry had lost substantial investments due to delay in the passage of Petroleum Industry Bill (PIB).

The governor stated this when the Co-Chairman, National Assembly Joint Committee on Petroleum Industry Bill, Mohammed Monguno, led members of the committee on a visit to him at Government House, Asaba.

Okowa said that investments in the nation’s oil industry would be up-scaled as soon as the bill was passed.

According to him, people of the Niger Delta zone are gladdened to hear about the renewed commitment by federal lawmakers towards passing the Petroleum Industry Bill.

Okowa expressed delight with the inclusion of Host Communities Fund in the bill, saying that this would make the people to be part-owners of the ventures and encourage them to secure oil facilities.

“You have come obviously for a very important assignment, something that we have not been able to achieve as a…

Source: News Agency of Nigeria