PIB Absence Stalls Investment Inflow Into Nigeria – Kyari

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The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has said that until and unless the petroleum legislation is passed, the volume of foreign investment flow into the country would not be as robust as it should be.

The petroleum legislation has been lingering on the desks of lawmakers in the National Assembly since 1999, recording little or no success.

Addressing the Nigeria Guild of Editors (NGE) who paid him a courtesy visit yesterday in Abuja, Kyari called for the synergy between the Corporation and the Guild to bear on the lawmakers in the 9th National Assembly to pass the orchestrated bill into law.   

The NNPC boss craved the indulgence of the journalists to join hands with the Corporation and enlighten members of the 9th National Assembly on the need for the accelerated passage of oil and gas industry-related bills in order to create the right environment to attract more investments.

“We need the NGE’s help to get the petroleum bill passed through sufficient enlightenment of the National Assembly and all other stakeholders,” Mallam Kyari sued. He said NNPC management under his watch would enhance gas supply to the power and industrial sectors to boost the economy, adding that the oil and gas industry under his watch would promote the common good for all Nigerians.

The NNPC helmsman informed that NNPC would continue to work closely with the NGE to ensure a transparent and accountable industry, stressing that the Corporation must work for the economy to remain buoyant. “We recognise that we have to work together with the NGE. We promised that we are going to be transparent and accountable to all our shareholders who are, the over 180 million Nigerians. We have the responsibility to make sure that NNPC works for all of us”, he said. 

Mallam Kyari stated that the visit of the NGE was the greatest honour on the corporation by the journalism profession, maintaining that the profession’s role in nation-building was key to providing policy direction and guide for people in power.

On her part, the President of the NGE, Mrs Funke Egbemode, said the Guild would collaborate with the new management of NNPC by providing credible platforms that would enable the Corporation to always inform Nigerians and the world about its mandate.


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