They said any attempt to scheme out the oil-rich Ugborodo from the implementation of the PIA would be resisted.
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Sylva spoke at the Nigeria International Economic Partnership Forum, in New York, with the theme: “Nigeria’s Oil and Gas Sector: Reforms, Results and the Road Ahead”.
The Naira within the week depreciated to an all-time low of N730 to a U.S dollar at the parallel market.
Gbenga Komolafe, the Chief Executive Officer of the NUPRC, said this in a statement he issued on Saturday in Abuja.
Lawan made the call in his remarks moments before he referred the President’s request for the amendment of the 2022 Appropriation Act to the Committee on Appropriation after the bill scaled second reading.
The News Agency of Nigeria reports that Buhari said this on Monday in Abuja, while declaring open the 5th Nigeria International Energy Summit (NIES).
This was announced to the State House Correspondents Tuesday by the Minister of State for Petroleum Resources Chief Timipre Sylva at the Presidential Villa, Abuja.
President of the Senate, Ahmad Lawan, made the disclosure on Tuesday at the resumption of plenary session.
Dr. Chinyere Almona, Director-General, LCCI, gave the advice in a statement he issued on Tuesday in Lagos.
Gbenga Komolafe, Chief Executive Officer, NUPRC, made the clarification in a statement issued on Friday in Lagos.
In a keynote remark at the Nigeria International Partnership Forum, with focus on “Beyond the Pandemic”, President Buhari said the Nigerian economy was being re-engineered and re-positioned to be globally more competitive, favouring business and entrepreneurship to drive growth and development.
The confirmation of the nominees followed the consideration of a report by the Senate Committee on Petroleum Resources.
The confirmation of the nominees followed the consideration of a report by the Senate Committee on Petroleum Resources.
The NUPRC was created courtesy of the Petroleum Industry Act, PIA, the novel piece of legislation which suffered several years of failed abortion and vicious mutilations before its bill was finally passed by the National Assembly, NASS, and accented to by President Buhari as an Act of parliament.
This is in consonance with Section 53(1) of the Petroleum Industry Act 2021, which requires the Minister of Petroleum Resources to effect the incorporation of the NNPC Limited within six months of commencement of the Act, in consultation with the Minister of Finance on the nominal shares of the company.
Its Registrar, Taiwo Olusesi, made the recommendation in the Institute’s position paper on the PIA on Saturday in Lagos.
But quite instructively, the spate of reactions that trailed this development has diminished the ultimate intentions of the legislation
The minister gave the assurances in Washington DC during his engagements with international media organisations including the BBC Radio and Television, Bloomberg and Politico.
The steering committee is headed by the Minister of State, Petroleum Resources, Chief Timipre Sylva.