A new report by Financial Derivatives Company Limited (FDC) has indicated that Nigeria's oil and gas industry loses as much as $15 billion in investments annually due to the delayed passage of the Petroleum Industry Bill (PIB), currently before the National Assembly.
The bill, which seeks to overhaul the oil and gas industry and offer new fiscal incentives to investors, according to the Minister of State for Petroleum Resources, Mr. Timipre Sylva, and Senate President, Dr. Ahmad Lawan, is set to be passed this month.
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