Atiku Warns FG Against Hasty PIA Amendments and JV Divestments

Former Nigerian Vice President Atiku Abubakar has cautioned the Federal Government against rushing amendments to the Petroleum Industry Act (PIA) and joint venture divestments. Atiku emphasized the need for transparency, national interest, and strategic value in these processes to prevent undermining Nigeria's sovereignty and energy security.

He warned against reducing the federation's stake in joint ventures like RAEC, Oando (NGX: OANDO), and Seplat Energy (NGX: SEPLAT), urging a competitive bidding process to ensure fair distribution of benefits. Atiku highlighted the importance of protecting Nigeria's economic future and natural resources.

He stressed the significance of the PIA in enhancing accountability and investor confidence in the energy sector.