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Stop threatening Nigeria – Mark warns oil companies

By on July 22, 2013

Senate President, David Mark, has warned international oil companies ,IOCs, operating in Nigeria its frequent threats of leaving the country at a slightest provocation.

Mark stated this while declaring open a two-day public hearing on the Petroleum Industry Bill,PIB, oil-rig400organised by the Senate joint Committee on Petroleum (Upstream and Downstream), Gas and Judiciary.

According to him, “The international oil companies should not take undue advantage of Nigeria. What I do not want is when people begin to threaten that if you do not do this, we will park out of Nigeria.

“We are conscious of the fact that there are frustrations in the oil industry, but it is only temporary as things are even getting better.

He noted that despite the effort of the sixth National Assembly that tried to pass the bill, it failed.

Mark however said he was optimistic that at the present process where there was only one version, it will succeed. He encouraged all stakeholders to work closely to ensure speedy passage.

“To demonstrate the importance of this bill, we have four Committees working on it. We like as much as possible to fast track this bill because it is beginning to hold up so many things.

“Some investors when you talk to them, they tell you that they are waiting for the PIB to be passed, so we are anxious to get it out of the way,”

He warned against sentiment over the bill, adding that such would set one section of the country against another. “We should be objective,” he urged.

Continuing, “Nigeria wants to encourage investors and encourage more investment in the oil industry.

“The PIB is a win-win situation for everyone and so let us work towards fast tracking its passage,” Mark said.