Shell Petroleum Development Company Nigeria Limited(SPDC) has urged the National Assembly to pass the long-delayed Petroleum Industry Bill.
Managing Director of the company, Bayo Ojulari, said, “For every month and every week that we delay, investment fund is moving somewhere else.
“We’ve got the commitment that it will come up in June. We’ve heard that before and we are waiting to see.”
Ojulari spoke on Wednesday at an oil and gas conference in Abuja.
The PIB has been held up by political wrangling and objections from international oil companies that say the government is demanding an excessive increase in revenues. The current version of the legislation includes input from all stakeholders.
“It’s important to pass the PIB, but all of us collectively need to think about how we implement to ensure that the energy transition does not make the PIB obsolete the day it’s passed,” Ojulari said.