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Home Government Passage of PIB is desirous for Petroleum Sector-BPSR Boss
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Passage of PIB is desirous for Petroleum Sector-BPSR Boss

By
Prnigeria
-
October 27, 2020

Passage of PIB is desirous for Petroleum Sector-BPSR Boss

Director General of the Bureau of Public Service Reforms (BPSR), Mr. Dasuki Ibrahim Arabi, said the passage of the Petroleum Industry Bill (PIB) into law as soon as practicable, is one of the effective steps to be taken if the petroleum sector must move forward.

He made this known at a lunch-time seminar themed, “Current Reforms in the Petroleum Sector and their impact on Nigeria: The Role of NNPC,” on Tuesday, in Abuja.

Arabi, in a statement released by Aliyu Umar Aliyu, Principal Information Officer at the Bureau, also stressed the need for the rehabilitation of the nation’s four refineries so that they can begin to function at 100% capacity.

Read Also:

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  • Troops Eliminate Bandits, Rescue Abductee, Recover Motorcycles in Katsina

He said: “The petroleum reform and the Petroleum Technology Development Fund (PTDF) should take immediate steps to accelerate the process of acquisition and diffusion of technology and managerial expertise in the energy sector, for stability and self-reliance.”

Although Nigeria is rich in Petroleum Resources as a result of its geological endowment, the BPSR helmsman, said the fact that it remains highly dependent on oil reflects its failure to manage these resources to develop a broad-based economy.

Arabi, who disclosed that approximately 70 percent of Nigeria’s oil production is accomplished by joint ventures (JVs) and another 25 percent by production sharing contracts (PCCs), also said five major international oil companies (IOCs) currently are engaged in JV operations with the Nigeria government.

“However, the government have made several efforts to bring indigenous companies into oil production- via marginal field and other schemes; local content and engagement of local experts by oil companies,” he added.

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NSCDC, Army Foil Bandit Attack on Plateau FarmersEid El-Maulid: Kwara Gov Urges Muslims To Embrace Unity, Shun PartisanshipTroops Eliminate Bandits, Rescue Abductee, Recover Motorcycles in KatsinaMilitary Foil Terrorists Attack, Recover Dozens of Rustled Livestock in Sokoto, KebbiTroops Recover Weapons in Kwara Operation, Donate Fertiliser to Farmers in ZamfaraTroops Ambush Militia Plotting Attack on Plateau VillagersRECOMMENDED: Godfatherism the Ododo-Bello Way!! By Nafisat BelloBUKAA Announces 2025 AGM at BUK New Campus: Join In-Person or VirtuallyNigeria’s War on Illegal Mining Needs the Media on the Frontlines By Zekeri Idakwo LarubaBuilding Resilience: Crisis Communication in Modern Organizations By Princewell N. AchorIGP Egbetokun Appoints CSP Hundeyin as New Force PROMilitary Explains Why Retirees Can’t Benefit from New Minimum Wage ChartCustoms Begins Live Operations of Automated Excise Register SystemFG, Experts Urge Information Commissioners to Partner with ICPC on Grassroots Anti-Corruption DriveStill on the "National Single Window" Project By Abdulsalam Mahmud
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