Nigeria: 'Further Delay in PIB Passage,Will Harm Nigerian Economy'

The Nigerian Society of Engineers, NSE, has condemned the continued delay in thepassage of the Petroleum Industry Bill, (PIB), stating that any further delay will be more harmful to the economy.

NSE's President, Mr. Isaac Olorunfemi, sounded this warning in Abuja at a world press conference to herald the World Engineering Conference on Sustainable Infrastructure (or WECSI 2014) to be hosted by Nigeria this week.

"We therefore call on the National Assembly to please expedite action on the passage of this all-important bill into law," he said. "Further delay will be more harmful to our economy."

Olorunfemi reminded the lawmakers of some of the provisions of the bill that make its enactment into a law imperative and urgent. One of them is less government participation in the oil and gas industry, thus minimising its role and influence, and bringing transparency to policy and regulatory functions.

He said the bill would also encourage domestic gas utilisation that will promote rapid industrialisation; safe, sustainable and efficient infrastructural development in the sector; deregulation, and indigenous human capital development that will open doors for Nigerians to join the industry workforce, as well as protection of the environment.

On the upcoming conference holding between November 2 and 7, at which President Goodluck Jonathan will be Special Guest of Honour, Olorunfemi said, its theme is "Development and Sustainable Infrastructure in Africa."

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