By Admin The Nigerian Senate has passed the Petroleum Industry Governance Bill, the long-awaited legislation that promises broad reforms to the nation’s oil and gas industry. The report on the bill, produced by the Senate joint committee on gas, petroleum (downstream) and petroleum (upstream), was presented on Thursday by Donald Alasoadura, APC-Ondo. After a clause-by-clause consideration, with few amendments, the Senate approved the bill, moving a step closer to making its ambitious contents law. Amongst other objectives, the petroleum bill seeks to introduce reforms that would engender transparency, while at the same time making the oil and gas sector more…
Author: Orientalnews Staff
Yemisi Izuora The managing director and chief executive officer of the Oil and Gas Free Zones Authority, OGFZA, Umana Okon Umana has said the authority henceforth would not issue fresh licenses for the establishment of new Zones except a detailed and verifiable economic plan is submitted by potential developers. Umana said this step has become necessary owing to not viability of many existing zones in the country. He noted that the intention of establishing such Zones is to serve as vehicles for promoting accelerated growth and sustainable economic development. Speaking as a panelist at the 2017 Nigeria Business RoundTable, NBR,…
Yemisi Izuora Traditional medicine practitioners in the southwest are meeting in Lagos state in the first step toward launching of a nationwide clinical verification that will authenticate and certify various local medicines in the country. This follows a Memorandum of Understanding recently endorsed by the Nigerian Institute of Medical Research, NIMR, with the Nigerian Council of Physicians of Natural Medicine, NCPNM, to establish collaborations and cooperation between the two bodies for the search and development of Nigerian indigenous natural medicinal products with potential health and economic benefits. The national president of NCPNM, professor Magnus Atilade said the practitioners would be…