Senate President Godswill Akpabio has called for the effective implementation of the Petroleum Industry Act (PIA), insisting that Nigeria’s oil wealth must translate into tangible benefits for citizens, including job creation, increased investment and improved living conditions in oil-producing communities.
Speaking at a stakeholders’ engagement on the implementation of the PIA in Abuja, Akpabio said five years after the law was enacted, its success should be measured by the results delivered rather than the institutions established or reforms promised.
He urged relevant authorities to strengthen regulatory efficiency, restore investor confidence, increase crude oil production, tackle crude oil theft and ensure that host communities benefit meaningfully from petroleum resources. He also stressed that lawmakers must sustain oversight to ensure the law achieves its intended objectives.
Akpabio reaffirmed his commitment to working with relevant institutions and stakeholders to advance President Bola Tinubu’s economic reform agenda, while prioritising transparency, accountability and the national interest. He said Nigeria’s petroleum wealth should be measured by the jobs created, communities transformed and opportunities secured for future generations.
Daily Times
