Oil industry to embrace realities with PIB - NNPC

The Nigerian oil industry will definitely adjust to new realities of global industry trends if the Petroleum Industry Bill (PIB) is passed into law, the Nigerian National Petroleum Corporation (NNPC) has said.

NNPC’s Group Managing Director (GMD) Malam Mele Kyari disclosed this on Monday in Abuja at the Valuechain magazine’s 3rd annual lecture and awards.

Kyari said the Nigerian oil industry is desperately in need of reform to make it more beneficial to the country.

He assured that the reform in the industry will be concluded soon.

Kyari who insisted that the corporation was never afraid of any probe said the 2019 audited report will also be out soon.

The keynote speaker and Secretary General of African Petroleum Producers Organisation (APPO), Dr Umar Faruk Ibrahim, said the media is a critical stakeholder in the oil industry reform.

He urged journalists to go beyond surface reportage to dig out more facts that could change the status quo in the industry while seeking for more training for them.

Publisher of The Valuechain magazine, Musa Bashir Usman said the media had not performed as expected in its coverage of the PIB.

He urged journalists to always expose corruption in the oil industry in order to improve the country’s economy.