PIB Passage, Key To Attracting Investors-BPE

The Director-General, Bu
reau of  Public Enterprises, Mr Benjamin Dikki, says immediate passage of the Petroleum Industry Bill (PIB) would help investors take advantage of the huge potentials in the nation’s oil and gas sector and open up the economy.
Dikki stated this in Abuja, noting that the oil and gas sector in Nigeria has huge potentials that could be harnessed to grow the economy.
He explained that if the economy were liberalized, investor’s confidence would be boosted to participate actively in oil exploration, refining and other associated services, with multiplier effects in employment generation and general expansion of the economy.
The D-G expressed optimism that the eight reform bills submitted by the Federal Executive Council to the National Assembly would  be passed within the current legislature year.
Noting the achievements recorded in the transport sector, Mr Dikki said the sector had huge potentials for the Nigerian economy, and that when the reform bills are passed, they would open up investments in road transport, inland waterways and railways.
He said Nigeria currently has 193,000 kilometres of federal roads which would be broken into concession lots.
According to him, when these bills are eventually passed, road construction and maintenance would be handled by concessionaires as against the present practice of depending solely on the Federal Budget.
Dikki urged investors to take advantage of the opportunity and come forward to invest in the oil and gas sector, stressing that all the reforms carried out by the bureau, such as in telecoms, power and pensions have been remarkable and have impacted positively on the Nigerian economy.