NNPC challenged NASS consultant on PIB to properly address fiscal, other issues

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Nigeria National Petroleum Corporation (NNPC) has urged the consultant to the National Assembly on the Petroleum Industry Reform Bill (PIB) to take a comprehensive look at the issues in the oil and gas sector and make bold recommendations that could engender enduring reforms, The Nation reports. The Group Managing Director Dr Maikanti Baru, stated this at a consultative meeting with the consultants to the National Assembly led by the lead consultant and former Director of the Department of Petroleum Resources (DPR), Mr. Osteen Olorunsola. A statement signed by Mr Ndu Ughamadu, the Corporation’s spokesman on Wednesday in Abuja noted that Baru lamented over multiple taxation in the industry. He said that the situation was a major source of worry to operators in the industry. Baru noted that while the passage of the PIGB deals with the governance structure of the industry, the remaining segments which include fiscal terms and host communities would require extensive consultation to aggregate opinions of industry stakeholders in order to strike a balance that could attract investments. He said the NNPC was interested in the segment of the PIB relating to the fiscal terms and was ready to spend considerable time and effort to ensure that the National Assembly got it right in the interest of the nation.