An expert in oil and gas, Mrs. Raqeebah Oloko-Adedimeji, has urged the National Assembly (NASS) to expedite action on the passage of the Petroleum Industry Bill (PIB).
Oloko-Adedimeji made the call in an interview with the Newsmen in Lagos on Saturday.
She said that it would be impossible for the nation to make significant progress in the oil sector without the passage of the bill.
It will be recalled that the PIB had been on the drawing board since 2008.
She said that if passed into law, it would help to restructure the petroleum industry and transform some institutions in the sector for effective performance.
Oloko-Adedimeji, who is also the coordinator of the Youth in Oil and Gas (YOG), called on stakeholders, especially operators, lawmakers, government officials, community leaders and civil society, to show more interest in the bill.
The coordinator said that the nation had lost lots of investments, due to non-passage of the bill, adding that the delay in the enactment of the bill was not good for the economy.
Oloko-Adedimeji said that the current situation in the oil and gas industry was not attractive to investors as it was slowing down the implementation of the national gas master plan.
“There is an urgent need for the National Assembly to expedite action on the passage of these bills before investors move away.
“Inability of lawmakers to pass the bill has caused many investors to divest or withhold new investments.”
She said that Nigeria would continue to import refined petroleum products and award endless turnaround maintenance contracts, until the bill scaled through.