He reiterated his administration’s commitment to making the necessary efforts for industrial peace, harmony, and development.
‘‘The committee’s specific objective is to assist the federal government in recovering the $20 billion revenue lost in the sector.”
“I thank almighty God for choosing me to consistently play an important role in shaping the destiny of our nation’s oil company from the good to the great.”
The three per cent equity share for host communities is not listed in this request even as stakeholders in the region continue to clamour for a change.
Such periodic review would help to consolidate the gains of the legislation, according to ICSAN.
Vice President Yemi Osinbajo says the Petroleum Industry Act (PIA) and the government’s gas initiatives will help transform Nigeria into a gas-based industrialised nation.
The PIA signals the implementation of full deregulation of the downstream sector, the federal government said.
The governor said the yearnings of host communities were not considered when passing the bill into law.
