FOLLOWING the delay in the passage of the Petroleum Industrial Bill, PIB, into Law, the Coordinator, Host Communities Network of Nigeria, Prince Preye Pawuru, has accused oil multinationals operating in the Niger Delta of sabotaging the bill.
Pawuru told Sweetcrude that Nigeria’s petroleum sector had remained unregulated over the years, and as such was imperative that the PIB is passed into law. This, he said, is to enable proper regulation, accountability and transparency in the industry, to fast-track the development in the oil producing communities and the country as a whole.
Pawuru said: “The major stumbling block against the PIB is the oil multinationals. They are busy lobbying the National Assembly because by the time the PIB is passed the profit margin of these oil companies will drop. These companies are only interested in their profit, and as such, will do everything possible to boost their profits.
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