No Result
View All Result
Friday, March 31, 2023
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    BoG cautions against use of Ghana Cedi for bouquets and hampers

    CUTS International pushes for passage of Competition bill

    DBG partners UGBS to deepen development finance

    GH¢5.5bn approved by Parliament not only for Blackshield customers – SEC

    BoG assures of enhanced educational campaigns to ensure proper handling of local currency

    Youth in Accountable Governance calls for passage of outstanding revenue bills

    GRA reiterates calls for businesses to embrace  E-VAT

    IES predicts drop in fuel prices from April 1

    Journalists trained on the Enrolment of cocoa farmers in pension scheme

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    CUTS International pushes for passage of Competition bill

    DBG partners UGBS to deepen development finance

    Bank of Ghana increases Monetary Policy rate to 29.5%

    Industry experts convene to discuss diversification strategies for pension funds

    It’s time to give women top posts in multilateral institutions – GCBL Chairman 

    Global Chamber of business leaders enters into partnership with IEFS

    Gold for Oil policy will save Ghana $4.8bn annually – Veep

    Energy Minister scheduled to speak on Ghana’s near-term opportunities at NAEPEC 2023

    Standard Chartered appoints Ebenezer Twum Asante as Chairman of Board of Directors

  • TECHNOLOGY

    Cyber Security Authority commences licensing and accreditation regime

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

    5 important things to know about the African Continental Free Trade Area agreement

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    BoG cautions against use of Ghana Cedi for bouquets and hampers

    CUTS International pushes for passage of Competition bill

    DBG partners UGBS to deepen development finance

    GH¢5.5bn approved by Parliament not only for Blackshield customers – SEC

    BoG assures of enhanced educational campaigns to ensure proper handling of local currency

    Youth in Accountable Governance calls for passage of outstanding revenue bills

    GRA reiterates calls for businesses to embrace  E-VAT

    IES predicts drop in fuel prices from April 1

    Journalists trained on the Enrolment of cocoa farmers in pension scheme

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    CUTS International pushes for passage of Competition bill

    DBG partners UGBS to deepen development finance

    Bank of Ghana increases Monetary Policy rate to 29.5%

    Industry experts convene to discuss diversification strategies for pension funds

    It’s time to give women top posts in multilateral institutions – GCBL Chairman 

    Global Chamber of business leaders enters into partnership with IEFS

    Gold for Oil policy will save Ghana $4.8bn annually – Veep

    Energy Minister scheduled to speak on Ghana’s near-term opportunities at NAEPEC 2023

    Standard Chartered appoints Ebenezer Twum Asante as Chairman of Board of Directors

  • TECHNOLOGY

    Cyber Security Authority commences licensing and accreditation regime

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

    5 important things to know about the African Continental Free Trade Area agreement

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

Nigeria: PIB – Buhari Urged to Stop Further Slips After U.S.$80 Billion Loss

bycitibusinessnews
June 29, 2016
in Africa, West Africa
Share on FacebookShare on TwitterShare on Whatsapp

President Muhammadu Buhari has been urged to intervene and secure the political will to stop further loss of investments after loss of $80billion direct foreign investment and another $10billion fresh investment were recorded in the oil sector due to the non-passage of the Petroleum Industry Bill (PIB).

Experts in oil and gas and the civil society made the call on Tuesday in Abuja at stakeholders’ consultative dialogue on the PIB organised by the Civil Society Legislative Advocacy Centre (CISLAC) and the Strengthening Advocacy and Civic Engagement (SACE).

The Executive Director of the African Centre for Leadership, Strategy and Development (Centre LSD) Dr. Otive Igbuzor, said that there are prevailing opportunities to ensure the passage of the PIB and that the present administration’s change mantra be extended to the oil and gas sector of the country.

ADVERTISEMENT

“The knowledge of what Nigerian is losing is becoming more widespread. According to Bank Anthony Okoroafor, the Chairman of the Petroleum Technology Association of Nigeria (PETAN), Nigeria has lost $10bn (N1.7 trn) fresh investment to the non-passage of the PIB. According to Chuka Onuegbu, the Chairman Trade Union Congress (TUC) Rivers State, Nigeria has lost $80 bn in foreign direct investment from the delay in the passage of the PIB. The political leadership will lose any form of credibility left if the PIB is not passed before the end of the 8th Assembly,” Igbuzor said.

Executive Director of CISLAC Auwal Ibrahim Rafsanjani who represented the Civil Society Organisations (CSOs) representative on the National Stakeholders Working Group (NSWG) of the Nigeria Extractive Industries Transparency Initiative (NEITI) Mr. Kolawole Banwo, said that the PIB is necessary for effective governance of the oil and gas sector in Nigeria.

He however regretted that efforts by two successive sessions of the National Assembly to pass it into law were unsuccessful due to several factors, some related to the processes and others to its content.

“The need for the law is emphasized by the fact that there are fresh efforts by both the executive and legislature to commence the process of having it enacted. It has therefore become necessary for stakeholders to examine these new efforts in the light of previous experiences and make useful recommendations on how to ensure successful passage,” Rafsanjani said.

The Executive Secretary of NEITI Mr. Waziri Adio and Dr. Brown Ogbeifun of AFRITAL said the passage of the bill first initiated after 16 years, in April 2000, required the collaboration and persistent of stakeholders and all Nigerians.

–

Credit: All Africa

Related Posts

Africa

Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

byEmmanuel Oppong

The South African High Commissioner to Ghana, Her Excellency Grace Jeanet Mason is urging businesses in Ghana and South Africa...

Read more

Medical devices market projected to expand by $ 7.1 billion by close of year

African Union adopts Africa Prosperity Dialogues AfCFTA action plan

Third World Network Africa urges Africans to be strategic about AfCFTA

$130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

Nigeria’s national debt hits an all time as the country struggles with repayment

Next Post

Exporters kick against weighing of containers by GSA

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.