NNPC urges National Assembly to pass Petroleum Industry Bill to stabilise industry

The Nigerian National Petroleum Corporation, NNPC, has urged the National Assembly to pass the Petroleum Industry Bill, PIB, to stabilise the industry.

The NNPC said this in a statement in Abuja by the corporation’s Group General Manager, Group Public Affairs Division, Ndu Ughamadu.

Part of the bill seeks to promote Nigerian content by making use of locally produced goods and services; foster community development by encouraging and ensuring peace in oil-producing areas and honouring international environmental obligations by promoting energy efficiency.

According to the statement, passage of the bill will dispel the air of uncertainty around the industry, create an enabling environment for the industry to flourish and dissuade the International Oil Companies, from exiting the country.

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