Against the backdrop of signing into law, the Petroleum Industry Bill, the Nigeria Employers’ Consultative Association (NECA) has called for immediate implementation and monitoring, saying it will generate more investments and jobs in the oil and gas sector.
Commending the Federal Government for the landmark decision, the Director-General of NECA, Timothy Olawale, said the law expectedly will herald positive changes in the Oil and Gas Industry.
“While we wait to see the signed version of the PIG Bill 2021, the PIG Act, 2021, expectedly, we look forward to a more robust industry with growing investor’ confidence and creation of more employment opportunities for the generality of Nigerians,” he said.
According to him, the relevant changes to the governance, administration, regulatory and fiscal framework of the Petroleum Industry will enhance transparency and further position the Industry to contribute effectively to National development.
He said, “While some provisions of the Act are far-reaching with varying implications and consequences for operators in the industry, we urge government to create a platform of proactive and continuous engagement with the operators in the sector for a smooth implementation of the provisions of the Act.”
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