Vice President Yemi Osinbajo says stakeholders in the oil industry must find and agree on cheaper means of producing oil and ensure a more competitive environment that meets the purpose Nigeria.
The VP said this during a virtual meeting Wednesday on the Petroleum Industry Bill (PIB) with stakeholders under the auspices of the Oil Producers Trade Section in Nigeria, and Independent Petroleum Producers Group.
Osinbajo said in a statement signed by his spokesperson Laolu Akande that there also the need to reconciling and maintaining the domestic gas obligation, and at the same time improve the gas environment in such a way that Nigeria benefit maximally from it as a business and government.
On the benefit of harmonizing interest in the PIB, the vice president observed that the passage of the PIB should be seen as an opportunity to transform the industry by addressing lingering issues that have impeded development across the different sector that make up the industry.
