By Dapo Akinrefon
Newly elected president of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, NACCIMA, Ide John Udeagbala, has welcomed the passage of the Petroleum Industry Bill, PIB, saying it will bring the much awaited and needed reform of the Nigerian oil and Gas sector for improved involvement of the Nigerian Private sector and improve confidence of foreign investors who have complained of lack of clear appropriate legal framework in the Nigerian oil and Gas sector.
In a statement, Udeagbala said all stakeholders must now work concertedly to ensure that the Bill will improve the life of the host oil community, ensure sustainable development of the environment in the oil producing areas.
He was of the view that while the passage of the Bill was a big relief, its faithful, transparent implementation was key to ensure its desired objectives.
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Source: Vanguard Newspaper