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Three arrested as police recover one-chance vehicle in Lagos
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Police Apprehend One-Chance Gang Operating In Lagos – Concise News
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Patrick Atuanya
Deregulation. How this one word remains an enigma with regards to the downstream oil and gas sector in Nigeria must be one of the wonders of the world.
How can it be that something so glaringly and clearly the best way to go for Nigeria is not being adopted – especially when short term fixes like subsidies and pseudo deregulation policies have failed to make any impact?
The billions of naira Africa’s largest oil-producing country commits to subsidising petrol is no longer news, but what is more infuriating is the opportunity cost forgone in a slow growing economy that could use more private sector investments for job creation and growth.
By Peter Uzoho
On the heels of the proposed establishment of Petroleum Host Community Fund in the Petroleum Industry Bill (PIB) currently at the National Assembly, the Partner, Tax, Regulatory and People’s Services, KPMG, Mr. Wale Ajayi, has called for the scrapping of the Niger Delta Development Commission (NDDC).
Ajayi also canvassed for an end to the discretionary allocation of oil blocks by the President of the country as empowered by the extant petroleum law of the country, saying the PIB has made provision for a competitive bidding process for the allocation of oil blocks.
The KPMG partner made the interventions recently when he featured on Global Business Report, a programme of Arise News Channel, THISDAY’s sister broadcast station.
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