PIA: Abbas demands accountability from NNPC

Speaker of the House of Representatives, Tajudeen Abbas, has called for stronger corporate accountability and effective legislative oversight of the Nigerian National Petroleum Company Limited (NNPCL) in a bid to ensure the success of the Petroleum Industry Act (PIA). Abbas, who was represented by the House Leader, Julius Ihonvbere, emphasized that the implementation of the PIA, which aims to establish a more transparent, commercially viable, accountable, and investment-friendly petroleum industry, must be accompanied by tangible benefits for Nigerians.

He noted that five years after the Act's enactment, stakeholders must assess the extent to which the promises made in the legislation have been translated into practical results, highlighting that the transition of NNPCL into a commercially-oriented company should improve operational efficiency, attract investment, and create greater value from Nigeria's petroleum resources.

Brief written by urgent.news from Punch's own syndicated text. Machine-written — may contain errors; check the original before relying on it.