The House of Representatives on Tuesday underscored the need to ensure continuous review of the Petroleum Industry Act (PIA) in order to be attuned to the evolving dynamics of the global energy landscape and the specificities of the Nigerian context.
Chairman, House Committee on Petroleum Resources (Upstream), Hon. Alhassan Ado-Doguwa stated this during the inaugural meeting of the Standing Committee, and expressed optimism that despite daunting challenges facing the country, they are not insurmountable.
This, according to him can be achieved through shared vision, and synergy and by instituting transformative changes that will resonate through the industry and across the fabric of our society.
While noting that the enactment of the Petroleum Industry Act by the 9th Assembly was a watershed moment, he argued that the legislation “signaled a new dawn of reform intended to revitalize an industry that is the lifeblood of our economy.”
He therefore called for the collaboration of all stakeholders within the industry to drive the development of the sector.
“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.
“Let us march forward with determination and a relentless pursuit of excellence. Together, we are poised to redefine the narrative of our petroleum sector and chart a course towards a future replete with prosperity, stability, and opportunity for all Nigerians,” he said.
He said the inauguration was not just a formality but the embodiment of the collective resolve to steer the nation’s petroleum sector toward unprecedented heights.
He expressed optimism that the shared understanding of the leadership of the committee has not only deepened insights into the oil and gas sector’s current state, but also helped us chart a strategic course through its complex waters, addressing key issues such as security, production efficiency, exploration frontiers, and sustainable industry growth.
“In recognising the interdependent nature of our work, we have proactively engaged with the leadership and administrative officers of our allied committees, those focusing on Petroleum Resources (Downstream), Petroleum Resources (Midstream), and Gas.
“This strategic collaboration is the cornerstone upon which we will build a cohesive and comprehensive approach to the multifaceted challenges and opportunities within the oil and gas sectors,” the former Majority Leader said.
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