Expedite the passage the Petroleum Industry Bill (PIB)
Lagos State Governor, Mr Babatunde Fashola, has urged the Federal Government to expedites plan on the passage the Petroleum Industry Bill (PIB).
Fashola, who was represented by Mr Ola Oresanya, Chairman of Lagos State Waste Management Agency (LAWMA), made the plea at the ongoing 36th annual conference and exhibition of the Society of Petroleum Engineers (SPE) in Lagos.
He lauded the courage of the Minister of Petroleum in pursuing the reform, which is necessary to bring the oil and gas back from the brink, and in particular for working assiduously towards the quick passage of the PIB.
According to him, “In Lagos, we are eagerly waiting its commencement, as we have already started our own energy reform for the benefit Lagosians, for instance, that energy is one of the most critical factors that affects our socio-economic growth.
“We created a new ministry at the start of this term, to be responsible for the development and exploitation of energy and mineral resource in Lagos State,” he stated.
Fashola said that Nigeria was blessed with huge oil and gas resources, which are currently estimated at about 35 billion barrel reserve for oil and 187 trillion cubic feet for gas.
He said that all the valuable assets have not been fully exploits and Nigeria’s deep offshore oil and gas resources still remain untapped.
The Lagos State Governor said: “I implore you not to rest on your oars; all arms must be on deck to ensure that once the bill is passed into law, its implementation stimulates the transparency, efficiency, fairness and equity that we all desire.”