PHCCIMA Declares Support For Passage Of PIB

The Port Harcourt Chamber of Commerce, Industries, Mines and Agriculture (PHCCIMA) has declared support for the passage of Petroleum Industry Bill (PIB) now before the National Assembly.
Mr Vincent Furo, the President of PHCCIMA, disclosed this in an interview in Port Harcourt.
Furo, who affirmed the chamber’s total support for the bill, said the bill would “create entrepreneurial inroads into the management of our oil and gas local content“.

The Port Harcourt Chamber of Commerce, Industries, Mines and Agriculture (PHCCIMA) has declared support for the passage of Petroleum Industry Bill (PIB) now before the National Assembly.
Mr Vincent Furo, the President of PHCCIMA, disclosed this in an interview in Port Harcourt.
Furo, who affirmed the chamber’s total support for the bill, said the bill would “create entrepreneurial inroads into the management of our oil and gas local content“.
He said that the bill, when passed, would empower indigenous oil and gas industrialists to determine the level of activities in the sector.
‘’Our local entrepreneurs at present are very far from reaping the prospects of a local content policy.
“It is the international oil and gas industrialists that are in full control of our oil sector.
“And it is the existing laws that made it so; that is why we are saying yes to the PIB,’’ he said.
Furo urged the National Assembly to pass the bill without delay to engender optimal production and excellence of Nigerian oil Industrialists.
“The bill is the greatest thing to happen to the oil and gas sector of this country and we expect every patriotic citizen to support it,’’ he said.
He said that the time was ripe to reverse the trend whereby foreigners exploited the nation’s oil and gas resources more than the local experts.
The chamber boss described the bill as “a ticket to massive empowerment“ of local entrepreneurs even in other sectors of the economy.
“Even the power sector will benefit immensely after the bill becomes law, ` he said.
Furo called on the lawmakers to massively support the passage of the bill, saying that “ the oil sector is undergoing a revolutionary transformation“.