Reporter : CHINAZO ILECHUKWU
The Deputy President of the Senate, Ovie Omo- Agege, says the Petroleum Industry Bill when passed and signed into law will turn around the sector and accelerate development in the oil bearing communities.
He stated this in a message to a colloquium organized in Owerri, Imo State, for stakeholders in the oil and gas sectors from Niger Delta states.
Senator Omo-Agege represented by his Chief of Staff, Mr. Otive Igbuzor, said the law would address youth restiveness in the oil bearing communities through massive employment and reposition the Nigeria National Petroleum Corporation (NNPC) for greater efficiency.
The Deputy Chairman, House of Representatives Committee on Niger Delta Affairs, Chief Henry Nwawuba, gave an assurance that the parliament would speed up the legislative process of enacting new legislation on the petroleum industry in line with modern day realities.
A facilitator, Mr. Oke Epia, said the forum was to sensitize host communities on some provisions of the legislation as it affects them and to enable them make inputs.
The bill when passed and signed into law will, among other things, make it mandatory for oil companies to set aside a certain percentage of their resources for the welfare and overall development of their host communities.