The programme coordinator, Nigeria Natural Resource Charter (NNRC), Ms. Tengi George-Ikoli, yesterday disclosed that the nation may have has lost over $235 billion due to its inability to conclude work on the Petroleum Industry Bill (PIB), Leadership reports.
Speaking at a round-table organised by the NNRC and Media Initiative on Transparency in Extractive Industries (MITEI) in Abuja, yesterday, she said analysts have confirmed that Nigeria has lost over $235 billion due to its inability to pass the Petroleum Industry Bill (PIB) into law since the reforms in the Nigerian petroleum industry commenced almost two decades ago.
According to her, Nigeria is no longer as competitive globally or even within the continent of Africa, stressing that “Comparatively over the last five years; Uganda, Kenya, Tanzania and Ghana all passed their respective petroleum sector bills in 2012, 2016, 2015 and 2016 respectively.”