The Secretary to the Government of the Federation, Boss Mustapha, has stated that the reforms being undertaken by the Federal Government in the oil and gas industry would placed the country on the trajectory of sustainable economic development.
SGF disclosed this when the Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC), Muhammad Sanusi Barkindo, paid him a courtesy visit in his office.
According to him, the Federal Government under the leadership of President Muhammadu Buhari has achieved a milestone in the passage of the Petroleum Industry Act (PIA) which was a dream hitherto unfulfilled despite various unsuccessful attempts to enact the law in the sector.
In his words:
“We have shared this afternoon some of the great feats that Nigeria has achieved particularly dealing with the oil and gas industry. He commended the government for its ability to have the Petroleum Industry Act (PIA) has into law. The last time had this exercise was in 1969- from 1969 to date nothing has happened dramatically in the oi and gas industry. The Act has brought to fore the liberalization of the oil and gas industry. I believe with the time limit of one year from its implementation, we would be able to see the accruable benefits to the Nigerians”.
He said that despite the challenges posed by the outbreak of the Covid-19 pandemic, the visionary leadership of President Muhammadu Buhari was able record modest achievements by constituting the Presidential Task Force on Covid-19 which metamorphosed into the Presidential Steering Committee on Covid-19 and thus provided the roadmap for the Economic Sustainability Plan. He added that the policy has helped Nigeria to exit recession in a record time with more than 5 % growth in the economy.
SGF further indicated that Nigeria would collaborate with OPEC so as to get the necessary support and guidance in the implementation of the Act for economic sustainability and growth.
Speaking earlier, the Secretary-General of the Organisation of the Petroleum Exporting Countries (OPC), Muhammad Sanusi Barkindo, congratulated Nigeria for exiting recession thus guaranteeing steady growth in economic development.
Barkindo commended the efforts of the chairman of PSC on Covid-19 for providing purposeful leadership in the containment of the pandemic in the country through adopting appropriate strategies in line with international best practices.
He noted with gratitude the passage of Petroleum Industry Act which would open a new vista for the oil and gas sector of the Nigerian economy