Akpabio Launches Review of Petroleum Industry Act Progress

On October 21, 2026, Senate President Godswill Obot Akpabio declared open the Stakeholders’ Engagement Programme on “The Petroleum Industry Act (PIA) Implementation Journey: Industry Impact and the Path Forward” at the Transcorp Hilton in Abuja. This high-level engagement marked five years since the enactment of the Petroleum Industry Act 2021 and included regulators, operators, host communities, and industry stakeholders to evaluate the progress of its implementation.

In his address, Akpabio emphasized the importance of assessing whether the reforms promised by the PIA have translated into tangible benefits for Nigerians. He commended NNPC Limited and Neo Mundo Limited for organizing the event and stressed that the gathering was not merely a celebration but a critical evaluation of the PIA's impact.

Akpabio highlighted the need for accountability and evidence-based assessments of regulatory efficiency, investment attraction, and benefits to host communities, urging stakeholders to confront shortcomings and work towards realizing the PIA's full potential.