Abuja and Lagos — As the harmonised Petroleum Industry Governance Bill (PIGB) is yet to get to the desk of President Muhammadu Buhari for assent, expert feared the current delay might lead to more investment losses in the oil and gas sector.
Nigeria Extractive Industry Transparency Initiative (NEITI) had earlier said that Nigeria loses $200 billion yearly due to the delay in the passage of the PIGB.An Act set to establish the legal and regulatory framework, institutions and regulatory authorities for the Nigerian petroleum industry, to establish guidelines for the operation of the upstream and downstream sectors, and for purposes connected with the same.
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