The Organised Private Sector, OPS, in Nigeria has asked the federal government to allow for a structured and disciplined implementation of the Petroleum Industry Bill, PIB, on the long term so as to achieve its purpose.
The OPS, operating under the aegis of National Association of Chambers of Commerce Industry Mines and Agriculture, NACCIMA, is of the view that such
an implementation approach will ensure transparency and focus while reinforcing confidence among local and International players.
The NACCIMA also applauded the law which specifically unbundled and commercialized operations of the Nigerian National Petroleum Corporation, NNPC and disaggregate regulation from operatorship and accomodate diverse stakeholders especially host communities is transformative.
The Association is of the view that a restructured NNPC and ownership structure will help to create a wider opportunity for and space for members and the oil producing communities to participate.
“It is also the view of the Association that the private sector is in a prime position to drive the realization of the objectives of the PIB and as such should receive the requisite support and policy enablement to play this key role in both the Upstream, Midstream and Downstream segments.
In the same vein the Association is committed to leveraging the PIB to realize the goals of the Decade of Gas agenda and become a leading player in monetizing Nigeria’s gas assets, generate power and boost our productive capacity of our Industries., NACCIMA said in a statement.