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By Peter Uzoho
Members of the Senate and House of Representatives have said they are working round the clock to ensure the eventual passage of the Petroleum Industry Bill (PIB) this year, assuring Nigerians that nothing can stop the passage of the legislation.
The two chambers of the National Assembly also expressed their support for the deregulation of the downstream sector of the Nigerian oil and gas industry, particularly the pricing of petrol.
Members of the National Assembly Joint Committees on PIB led by their Chairmen, Senator Sabo Mohammed (Senate) and Hon Mohammed Monguno (House of Representatives), respectively, who toured the Dangote Refinery, yesterday in Lagos, equally pledged the support of the legislature to the Dangote Group to ensure the successful completion of the refinery.
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Inside Nigeria’s multibillion-dollar abandoned oil, gas projects
Published 8 February 2021
Before COVID-19 triggered a collapse in crude oil prices and demand last year, several big-ticket oil and gas projects in Nigeria had been hanging in the balance. In this report, ’FEMI ASU examines the impact of project delays and/or cancellations in the nation’s oil industry as well as the economy
Nearly nine years ago, one of the agencies in the Ministry of Petroleum Resources acquired 10.2 hectares of land for the construction of what was to become the first pipe mill in the country, and help meet the industry line pipe demand estimated at more than 800,000 tonnes per annum.
By Ike Uchechukwu
There are speculations that Federal Government may have lost over N1.2 trillion in oil revenue following the alleged breach of the 2000/2001 fiscal incentive package conditions by SINOPEC-ADDAX.
In a statement issued in Calabar at weekend, the Senator representing Cross River Southern Senatorial district in the senate, Senator Gershom Bassey said he had earlier sponsored a motion on the floor of the house drawing the attention of government to that effect.
Accordingly, he said the Senate has mandated the Senate Committee on Petroleum Upstream and Senate Committee on Gas to “scrutinize the 2000/2001 Fiscal Incentive Package and other Federal Government agreements with Sinopec-Addax Petroleum Company with a view to ascertaining the level of the company’s compliance with these agreements and make recommendations”.