Nigeria’s Oil Industry Is Losing Investments To Non-Passage Of PIB – Okowa

Delta State governor, Ifeanyi Okowa has come out to say that Nigeria’s oil industry has lost substantial investments due to the delay in the passage of the Petroleum Industry Bill (PIB).

He recently revealed this when he received on a courtesy visit, the Co-Chairman, National Assembly Joint Committee on Petroleum Industry Bill, Rt. Hon. Mohammed Monguno and members of the committee at Government House, Asaba.

According to him, investment in Nigeria’s oil industry would be upscaled as soon as the Bill was passed, and the people of Niger Delta are gladdened to hear of the renewed commitment of federal lawmakers towards the passing of the PIB.

He then added that he is pleased with the inclusion of Host Communities Fund in the Bill because it would make people part-owners of the ventures and encourage them to secure oil facilities.

His words, “You have come obviously for a very important assignment, something that we have not been able to achieve
as a county in the last 14 years.”

“We are gladdend as people from the Niger Delta to hear both leaderships of the National Assembly speak about their commitment towards passing the PIB.”

“If you do achieve it, your name will be definitely written in gold because for too long we have been talking about this bill and we are already endangering the oil industry.”

“People are agitated towards the direction of the PIB and when there is an anticipation and action is not clearly taken, it leads to the loss of investment opportunities because people are worried about the direction of the industry.”

“There is no doubt that oil exploration has kept our econony but over time it has caused so much pain to our people and this bill is geared towards addressing some of those pains.”

“People have lost their lives, lost their source of living and the pain continues to increase on daily basis, but we thank God that the dark days are over and there is an amnesty programme even though it is not being run as it was proposed by the Yar’ Adua’s administration.”