FG Set To Monitor Security Personnel Activities With Oil Thieves - Timipre Sylva

FG Proposes 18-Month Extension For Implementation Of Petroleum Industry Act.

The Federal Government has suggested an 18-month delay in the implementation of the Petroleum Industry Act (PIA), which was initially set to begin in February.

Timipre Sylva, Minister of State for Petroleum Resources, made the announcement Tuesday after meeting with President Muhammadu Buhari at the Presidential Villa in Abuja.

READ ALSO: Buhari Is Against Fuel Subsidy Removal, Timipre Sylva

He stated that the government will shortly brief the National Assembly on the situation.

President Buhari on August 16, 2021, signed the Petroleum Industry Bill into law.

The bill was passed by both the Senate and the House of Representatives earlier in July 2021, and Buhari’s signature was added to it.

The PIA is expected to boost investor confidence in Nigeria’s petroleum industry while also providing job opportunities for the local population.

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