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PIA to Help Nigeria Gain Revenue from Fines- MOMAN Chairman

Adaobi Rhema Oguejiofor

The Chairman of the Major Oil Marketers Association of Nigeria (MOMAN) has said that the country would gain revenue from fines and sanctions collected in the oil and gas sector, following the implementation of the Petroleum Industry Act (PIA). 

The Chairman of MOMAN, Olu Adeosun, disclosed this on Thursday in an interview with journalists, where he stated that he is optimistic that the PIA would reposition the oil and gas sector, as it has brought a lot of positivity to how things are done in the industry.

In his own words, “if you look at the recent development from regulators in the industry, there is a lot of positivity regarding what has been done. I can assure you that companies in the industry are being sanctioned. As we look into the PIA world, the only way to hold players accountable is to be clear on the rule. 

“I can assure you that more revenue will come to the government. Given the visibility it has today, we have to believe that the PIA will work.”

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