The bill would unlock potential investments into Nigeria’s rich resource base.
Ogbue said the bill will ensure a new future of legislation in the sector.
A government subsidy is a tax cut to the poor, the vulnerable, and the economically backward.
About one billion barrels of crude oil have been discovered in the North-Eastern part of Nigeria, Timipre Sylva disclosed.
The GMD of NNPC, Mr Mele Kyari has lamented over the continued importation of petroleum products into the country.
Timipre Sylva has disclosed that a new Petroleum Industry Bill (PIB) would be sent to the National Assembly next week.
According to the Senate President, the ninth NASS will pass the long-awaited PIB which has not been assented to for more than a decade.
Timipre Sylva has announced that repair works would commence on Warri and Kaduna refineries in the first half of next year.
The former Minister of States for Petroleum Resources, Dr. Ibe Kachikwu, has stated that one of the ways Nigeria can grow her crude oil reserves and...
Nigeria may have one more opportunity to maximize her oil wealth, as some analysts are of the opinion that oil prices could spike from 2020 due...