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Osinbajo, NNPC executives, others meet oil majors on PIB

Vice-President Yemi Osinbajo has met with some stakeholders in the oil and gas industry in continuation of the Federal Government’s consultations ahead of the passage of the Petroleum Industry Bill (PIB) currently before the National Assembly.

A statement by Osinbajo’s Senior Special Assistant on Media and Publicity, Laolu Akande, disclosed Wednesday in a presentation titled ‘Petroleum Industry Bill: We need to produce largest oil volumes possible at cheaper costs, tells oil and gas stakeholders’. The President of the Senate, Ahmad Lawan, had told reporters on Tuesday that there were forces within and outside the country that would work against the passage of the bill which the President Muhammadu Buhari, presented to the National Assembly in September 2020. The central aim of the bill which has passed second reading in both the Senate and the House of Representatives is to foster sustainable development in Nigeria’s oil and gas industry. Akande quoted the Vice-President as urging stakeholders in the oil industry at the virtual meeting to find and agree on cheaper means of producing oil while also ensuring a more competitive environment that meets the needs and purposes of Nigeria, including the largest production volumes possible.