Dogara says new pib will accord efficiency in oil sector
It seems like you're referring to a news article or statement made by Yakubu Dogara, the former Speaker of the Nigerian House of Representatives.
According to the article, Dogara stated that the new Petroleum Industry Bill (PIB) will bring about efficiency in the oil sector. The PIB is a legislation aimed at reforming the Nigerian oil and gas industry, with the goal of increasing transparency, accountability, and efficiency in the sector.
Dogara's statement suggests that the new PIB will address some of the long-standing issues in the oil sector, such as corruption, inefficiency, and lack of transparency. By introducing reforms and regulations, the PIB aims to create a more conducive environment for investment, improve the country's oil revenue, and enhance the overall development of the sector.
Some of the key provisions of the PIB include:
- Increased transparency in oil and gas operations, including the disclosure of financial information and contracts.
- Strengthened regulatory framework to ensure compliance with international best practices.
- Improved governance and accountability mechanisms to prevent corruption and mismanagement.
- Enhanced environmental and social impact assessments to minimize the sector's negative effects on the environment and local communities.
- Increased participation of local communities in the oil and gas industry, including the provision of benefits and opportunities for economic development.
Overall, the PIB is seen as a crucial step towards transforming the Nigerian oil and gas industry into a more efficient, transparent, and sustainable sector that benefits both the country and its people.