Reps launch review of oil company operations in Imo State

By Gift ChapiOdekina, Abuja

The House of Representatives has resolved to reappraisal the operations of lipid and state companies successful Imo State to guarantee compliance with section contented laws, the Petroleum Industry Act (PIA) 2021, and applicable taxation regulations.

The determination followed the adoption of a question sponsored by Rep. Chike Okafor (APC–Imo) during Wednesday’s plenary, titled: “Review of Compliance with Local Content, Petroleum Industry Act, and Tax Regulations by Oil and Gas Companies Operating successful Imo State.”

Okafor, representing Ehime Mbano/Ihitte Uboma/Obowo Federal Constituency, noted the value of ensuring that lipid and state operations successful the authorities are aligned with ineligible and regulatory frameworks, including the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010.

The question prompted the House to nonstop the Committee connected Nigerian Content Development and Monitoring to prosecute with lipid and state companies operating successful Imo State, arsenic good arsenic applicable regulatory authorities, to measure compliance with statutory obligations.

The House further mandated a associated reappraisal by the Committees connected Nigerian Content Development, Corporate Social Responsibility, Petroleum Resources (Upstream and Downstream), Midstream, Finance, and Justice to analyse operational and regulatory adherence and study backmost wrong 4 legislative weeks.

“This reappraisal is aimed astatine ensuring compliance with the instrumentality and promoting the improvement of big communities,” Okafor said.

The station Reps motorboat reappraisal of lipid institution operations successful Imo State appeared archetypal connected Vanguard News.