The House of Representatives plans to review the Petroleum Industry Act, signed by former President Muhammadu Buhari two years ago, to address local and global needs.
Alhassan Ado-Doguwa, Chairman of the House Committee on Petroleum Resources, emphasized the need for continuous law scrutiny and refinement to adapt to the evolving global energy landscape and the specifics of the Nigerian context.
Doguwa emphasized the committee’s crucial mandate to meticulously review and amend the Act, ensuring its robustness, forward-lookingness, and adaptability, rather than its passage.
“The enactment of the Petroleum Industry Act by the 9th Assembly was a watershed moment, signaling a new dawn of reform intended to revitalize an industry that is the lifeblood of our economy,” the lawmaker said.
He advocated for the cooperation of all industry stakeholders to expedite the sector’s growth. “As we embark on this journey, I am buoyed by the knowledge of your expertise, your passion for service, and your dedication to our nation’s welfare. The challenges before us are indeed formidable, but they are not insurmountable. With a shared vision and a synergy of efforts, we can and will institute transformative changes that will resonate through the industry and across the fabric of our society,” he said.