The Chairman House Committee On Petroleum Resources Downstream, Abdullahi Mahmud Gaya has said Nigeria, a gas rich country but relies heavily on oil for its revenue and failed to amend the law on gas, is costing her billions of naira.
He was speaking at a National Assembly Public Hearing, organised by the Joint Committee on Gas Resources, Petroleum Resources, Upstream and Downstream, in Abuja.
According to him, public hearing is an important part of the joint committee’s assignment and also an opportunity for stakeholders across the oil and gas sector and the country to present information, and contribute ideas that will help the joint committee arrive at the proper conclusions and propose effective solutions.
Hon Abdullahi Mahmud Gaya added that Joint Committee were working around the clock to amend the law that will including the natural gas sector in Nigeria’s oil contracts, saying some of the Gas laws in Nigeria has been in place since 1970 and was not been properly corrected.
Added that Speaker Femi Gbajabiamila has reiterated house efforts to achieve wholesale reform of the oil and gas sector in Nigeria which has demonstrated his unweaving patriotism toward making the country’s economy better.