Nigeria Pledges stable investment climate for oil sector

The Speaker of the House of Representatives, Abbas Tajudeen, has assured global investors in the oil and gas sector of Nigeria’s commitment to upholding the Petroleum Industry Act (PIA) for a smooth business partnership that will increase the production of petroleum products.

This was revealed by Alhassan Ado Doguwa, Chairman of the House Standing Committee on Petroleum Resources (Upstream), while participating at the global conference on Project 1MMBOPD Incremental Production of Oil in the Nigerian Petroleum Sector, held at Dorchester Hotel, Central Business District, London, United Kingdom, on Tuesday.

He said the forum, being a global interaction with prospective investment partners to Nigeria, was aimed at securing increased production of oil in the upstream sector of the nation’s economy.

“This will provide a great opportunity in the oil and gas sector in Nigeria. We, as a legislative institution, have assured prospective investors that we remain determined and committed to promoting and protecting the sanctity of the PIA as the overall legal framework in the oil and gas industry,” he said.

He added that, “We are also confident that this business initiative organized by the NUPRC is in clear harmony with the 10th House of Representatives Legislative Agenda and, above all, the Renewed Hope economic agenda of President Bola Ahmed Tinubu.”

“It is indeed our hope that this unprecedented forum will provide a dependable gateway to the Nigerian oil and gas industry.”

Doguwa extended the Speaker of the National Assembly’s sincere commendations to Nigerian citizens, assuring them of the legislative chamber’s commitment to helping the government promote a sound and viable atmosphere for business entrenchment.