Leadership (Abuja)
Jacob
23 October 2009
President Umaru Musa Yar'Adua says if passed into law, the Petroleum Industry Bill before the National Assembly will reposition the Nigerian National Petroleum Corporation (NNPC).
He added that it will also encourage investment and ensure transparency in the oil and gas sector.
Yar'Adua disclosed this while granting audience to the visiting new Chief Executive Officer of Royal Dutch Shell Plc., Mr. Peter Voser, who paid him a courtesy call at the State House yesterday.
According to him,"The intention of the Petroleum Industry Bill is to reposition the NNPC and enable it meet its funding obligations without recourse to government, ensure that relevant legislation encourages sustainable investment in the sector, as well as entrench openness and transparency", he stated.
Yar'Adua thanked Shell for its plan to contribute to the successful implementation of the post-amnesty programme of the administration, adding that "the amnesty is an opportunity to end the unfortunate situation in the Niger Delta, and we must not allow it to slip through our hands".
The President also expressed appreciation to Shell for investing in power production at Afam, as well as its "robust local content policy," and assured his visitor of government's cooperation in on-going discussions about future investments.
Earlier, the Royal Dutch Shell Chief Executive Officer, congratulated President Yar'Adua on the success of the amnesty and said the company was planning to hold workshops to train former militants on how to form and run businesses, while using its Small and Medium Enterprise Fund to assist the militants in setting up businesses.
He also told the President that Shell has given $2bn contracts to Nigerian companies, apart from employing over 6,000 staff, 95 per cent of whom were Nigerians, and 25,000 contractors.
Mr. Voser said the Afam Power Station was ready for commissioning, and invited President Yar'Adua to perform the ceremony.
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