The recently passed Petroleum Industry Act 2021 has been a topic of discussion amongst industry experts since its adoption. One such expert, the Managing Director/Chief Executive Officer of Frontier Oil Ltd, Engineer Dada Thomas, recently weighed in on the new legislation during a weekend event. Thomas offered his insights on the key changes and potential implications of the Act, sharing valuable perspectives that could impact the future of Nigeria's oil and gas industry.
1. The Petroleum Industry Act 2021 has been a topic of discussion among industry experts since its adoption.
2. Engineer Dada Thomas, the Managing Director/CEO of Frontier Oil Ltd, recently shared his insights on the key changes and potential implications of the Act.
3. Engineer Thomas expressed optimism about the positive impact of the Petroleum Industry Act 2021 on the oil and gas sector.
4. He highlighted that the new legislation would provide a more conducive business environment, promote investment, and drive technological advancements in the industry.
5. Engineer Thomas emphasized the potential for increased local participation and job creation, contributing to the overall economic development of Nigeria.
According to Engineer Dada Thomas, the Petroleum Industry Act 2021 could attract $10 billion worth of investment in the Nigerian oil and gas sector.
the unveiling of the company's new ultra-modern refinery in Lagos. Engineer Thomas expressed his optimism about the positive impact of the Petroleum Industry Act 2021 on the oil and gas sector. He highlighted that the new legislation would provide a more conducive business environment, promote investment, and drive technological advancements in the industry. Furthermore, he emphasized the potential for increased local participation and job creation, ultimately contributing to the overall economic development of Nigeria. As Frontier Oil Ltd positions itself as a key player in the sector, Engineer Thomas expressed the company's commitment to align with the provisions of the new act and harness its opportunities for growth and sustainability.