#NES25: Legislation, Power Will Drive Investments In Oil Sector – Kyari

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has said putting in place the right institutional and fiscal frameworks is very critical for investments to thrive in the oil and gas sector.

Kyari said this while speaking at the ongoing 25th edition of the Nigerian Economic Summit Group (NESG) Extractive Industry Breakfast Meeting themed “Rethinking the Future of Extractives.”

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According to him, the corporation is aware of the fact that the oil and gas sector is an enabler industry for the Nigerian economy, adding that the NNPC was determined  to ensure that the government gets the deserved revenues from the nation’s oil and gas endowments.

“Getting the right institutional/fiscal framework in place is very critical for investments to thrive in the gas sector. We are happy that there are concerted efforts by this government to put the petroleum legislation behind us within the first half of next year.

“Beyond that, we are looking into the future. We know that power is still an issue in the country. The best way for us is to have power plants which will help create jobs for our people and catapult our economy towards rapid industrial development.” Kyari noted.

The Nigerian Economic Summit Group is non-profit, non-partisan private sector organisation with a mandate to promote and champion the reform of the Nigerian economy into an open, globally competitive economy.

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