What Nigeria’s oil industry expects from Buhari’s presidency

General Mohammadu Buhari.

General Mohammadu Buhari.

04 April 2015, Lagos – THE incoming government of Major General Mohammadu Buhari (rtd) should ensure speedy passage of the Petroleum Industry Bill (PIB), revival of ailing refineries, adoption of zero tolerance on corruption, business friendly electricity tariff and deregulation of the down stream sector of the oil and gas industry.

These were the demand list of stakeholders in the oil industry such as the former President of Nigerian Association of Petroleum Explorationists (NAPE) and the President/Managing Director of Danvic Petroleum International, Dr. Mayowa Afe; President, Nigeria-Vietnam Chamber of Commerce and Industry, Prince Oye Akinsemoyin, and the Executive-Secretary of the Lubricant Producers Association of Nigeria (LUPAN), Emeka Obidike.

Speaking with The Guardian yesterday, Afe commended the just concluded 2015 elections, saying that the latest development has already started opening doors for investment in the oil and gas sector.

According to Afe, what has happened has opened up a lot of enthusiasms among foreign partners who are interested in investing in the country’s oil and gas industry. Specifically, he said that he got a phone call this morning (yesterday morning) from one of his company’s foreign partners on the possibility of opening up a discussion that would lead to more investment in the sector.

He said: “We are receiving positive reactions from our foreign partners. I had a very important call this morning on some actions that have been hanged due to uncertainty in the industry.
*Roseline Okere – Guardian

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