- DPR to unveil strategy to strengthen the oil and gas industry
- The programme is to ensure the sustainability of the sector
In the coming weeks, the Department of Petroleum Resources (DPR) will unveil a collaborative strategy called Maximum Economic Recovery (MER), aimed at strengthening the oil and gas industry and ensuring the sector’s sustainability.
The Director of DPR, Mr Sarki Auwalu, announced this in his keynote address at the ongoing Nigeria Oil and Gas Conference (NOG 2021) holding in Abuja. The theme is “Fortifying Nigeria’s Oil Gas Industry for Economic Growth and Stability.” Auwalu said the strategy would articulate key delivery programmes to guarantee the industry’s stability, growth, and development in line with the federal government’s aspirations.
Auwalu said on the legal front, the long-awaited Petroleum Industry Bill (PIB) has just been concurrently passed by both chambers of the National Assembly and awaits harmonisation, adding that it is expected that the president would assent to the bill that enhances clarity in the legislative, regulatory, fiscal, and administrative framework.
According to him, “It is anticipated that the developing commercial institution would be strengthened for efficiency, prudent management, financial stewardship, and operational excellence”.