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    The News: Nigeria May Lose $80b Investment in Oil Sector, Union Warns

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Summary

Chairman of PENGASSAN Emmanuel Onuorah says the Assembly's failure to pass the Petroleum Industry Bill could cost Nigeria's oil & gas sector $80bn in investment

by: Erica Mills

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Press Notes, Africa

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The News: Nigeria May Lose $80b Investment in Oil Sector, Union Warns

The non-passage by the National Assembly of the Petroleum Industry Bill (PIB) might threaten $80 billion worth of investment in Nigeria.

Mr Emmanuel Onuorah, Chairman, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Producers Forum said this on Sunday at a news briefing in Lagos.

Onuorah said that, “the non-passage of the bill will threaten 80 billion dollars worth of investment in the nation’s oil and gas sector between 2015 and 2020’’.

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