Akpabio Urges Tangible Results Five Years After Enactment of Petroleum Industry Act

Akpabio Urges Tangible Results Five Years After Enactment of Petroleum Industry Act

President of the Senate, Senator Godswill Akpabio, has called for measurable outcomes from the implementation of the Petroleum Industry Act (PIA), stressing that the success of the legislation must be assessed by its tangible benefits to Nigerians.

Akpabio made the call at a stakeholders’ engagement on the implementation of the PIA in Abuja, where he emphasised that Nigeria’s petroleum resources must drive economic growth, job creation, increased investment and sustainable development, particularly in oil-producing communities.

He noted that five years after the enactment of the law, attention must shift from the establishment of institutions and promises of reform to delivering concrete results for the country and its citizens.

“We have enacted the law. We have established the institutions. We have declared the promise of reform. Now we must deliver the results,” he said.

The Senate President described the petroleum industry as central to Nigeria’s economic future, urging relevant stakeholders to strengthen regulatory efficiency, restore investor confidence, improve oil production and intensify efforts to tackle crude oil theft.

He also stressed the need to ensure that host communities experience meaningful improvements in their living conditions through the effective implementation of the Act.

Akpabio maintained that the responsibility of lawmakers extends beyond passing legislation, noting that sustained oversight is necessary to ensure that laws achieve their intended objectives.

He reaffirmed his commitment to working with relevant institutions and stakeholders to advance the economic reform agenda of President Bola Ahmed Tinubu, while ensuring that transparency, accountability and the national interest remain paramount.

According to him, Nigeria’s petroleum wealth should be measured not merely by its natural resources, but by the opportunities created, jobs generated, communities transformed and prospects secured for future generations.

He added that the country’s petroleum resources constitute a national inheritance that must be managed responsibly for the benefit of both present and future generations.

Akpabio Urges Tangible Results Five Years After Enactment of Petroleum Industry Act