Effective Implementation of Petroleum Industry Act'll Boost investment, Improve Oil and Gas Production, Says Sen. Eteng
The Chairman of the Senate Committee on Petroleum Resources (Upstream), Senator Eteng Jonah Williams, has stated that effective implementation of the Petroleum Industry Act (PIA) 2021 will boost investment, improve oil and gas production, strengthen regulatory efficiency and deliver tangible benefits to host communities.
Speaking at stakeholders’ engagement programme themed “The Petroleum Industry Act Implementation Journey: Industry Impact and the Path Forward,” and held on Wednesday, October 21, 2026, at the Transcorp Hilton, Abuja, Williams described the PIA as a landmark reform that has strengthened the regulatory framework of the petroleum sector, improved institutional clarity and created opportunities for greater private-sector investment.
The engagement was organised by NNPC Limited, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Neo Mundo Limited and other participating institutions to assess the impact of the Act and chart a sustainable path for Nigeria’s petroleum industry.
He said the success of the Act must be measured by its practical impact, particularly in attracting investment, increasing production, promoting local content and improving the welfare of oil-producing communities.
Williams also stressed the need for transparent management of Host Communities Development Trusts, insisting that statutory provisions must translate into improved infrastructure, healthcare, education and sustainable livelihoods.
He identified five priorities for stakeholders including regulatory efficiency, investment and production growth, institutional coordination, host community development and measurable implementation outcomes.
The Senator reaffirmed the commitment of the 10th Senate, through his committee, to effective legislative oversight and constructive engagement with industry stakeholders.
He urged government institutions, regulators, operators and host communities to work collaboratively to ensure that Nigeria’s petroleum resources deliver sustainable economic growth and lasting benefits to Nigerians.
