From Femi Folaranmi, Yenagoa
The Minister of State for Petroleum Resources, Mr Timipre Sylva on Tuesday in Yenagoa, Bayelsa State declared that President Muhammadu Buhari has rescued the country from its 20 years of groping the in dark with the signing of the Petroleum Industrial Act.
According to him President Buhari’s singular action remains the best decision in the history of the oil and gas industry in the country.
Sylva who stated this at the opening ceremony of the Practical Nigerian Content Conference held at the Nigerian Content Tower of the Nigerian Content, Development and Monitoring Board headquarters with the theme ‘’Driving Nigerian Content in the New Dawn of the Petroleum Industry Act’’, said President Muhammadu Buhari would go down in history as one of the best presidents in the history of Nigeria for ensuring the passage of the Petroleum Industry Act into law after over 20 years of lethargy.
The Minister represented by the Director, Human Resources, Ministry of Petroleum Resources, Dr. Famous Eseodu, noted that the signing of the PIA is a landmark accomplishment of the administration in the energy sector.
“This achievement has shaken off the cloud that held down our industry for two decades and cost our sector billions of investments.
“With the PIA in place, we swung into action with the implementation and constituted the Board of the NNPC Limited and management teams for the Nigerian Upstream Petroleum Regulatory Commission and the Nigerian Midstream and Downstream Regulatory Authority”.
“We expect that our supersonic speed in implementing the PIA would encourage international and local operators to quickly introduce those new projects that were delayed by the uncertainties of the past. We expect the industry to be reinvigorated to catalyze inflows of new projects into the Nigerian oil and gas industry.”
Earlier in his speech, the Executive Secretary of the Nigerian Content, Development and Monitoring Board (NCDMB), Mr Simbi Wabote listed successes recorded from 2019 to date in line with the 10-year strategic plan of the NCDMB built of the five pillars and four enablers.
Some of the success listed includes the 5,000bpd Waltersmith Modular Refinery commissioned by Mr. President in November 2020 and the 2,500 bpd Duport Modular Refinery situated at Egbokor in Edo State scheduled for commissioning by the end of the year.
Wabote who disclosed that NOGAPS sites in Bayelsa and Cross River states have progressed to an advanced stage in spite of the COVID-19 pandemic said engineering designs and site preparation works have been completed for the sites in Akwa Ibom and Imo states with another two in Delta and Ondo states.
He also commended the administration of President Muhammadu Buhari over the signing of the PIA, pointing out that the PIA (2021) which according to him reinforced the role of NCDMB in the oil and gas industry