Platform Petroleum Applauds PIA for Transforming Investment Climate in Nigeria’s Oil and Gas Sector

Platform Petroleum Limited has praised the Petroleum Industry Act (PIA) for its significant positive impact on Nigeria’s oil and gas sector. During the “Investment Opportunities in Nigeria” panel session at the “Invest in Africa Energy 2024” conference in Paris, France, Mr. John Anim, Managing Director of Platform Petroleum Limited, emphasized the transformative effect the PIA has had since its enactment three years ago.

Mr. Anim noted that one of the major challenges in the Niger Delta has been security issues, which have seen substantial improvement under the PIA. He highlighted that past security problems were largely due to the exclusion of host communities from the benefits of oil and gas activities. The PIA’s Host Community Development Trust has effectively addressed this by making host communities major stakeholders.

“We have observed a remarkable shift in community relations. Three different communities that previously resisted our operations are now inviting us to explore oil and gas opportunities. This change is driven by the positive outcomes seen in other communities where the Host Community Development Trust has been implemented. The inclusion of host communities has ensured that environmental impacts are minimized, and the resources are shared more equitably,” Anim said.

Mr. Anim emphasized that the collaboration between communities and operators is a testament to the improved investment climate in Nigeria. He commended the current administration’s efforts to enhance the ease of doing business, which has made the environment more welcoming to investors. “The collaboration ensures that operations are seamless, and this is crucial for attracting further investments,” he added.

Additionally, Mr. Anim called for increased collaboration within the industry. “Partnership and collaboration are crucial for success in the energy sector. No company can operate in isolation,” he stated. Platform Petroleum Limited is positioned to attract foreign partners and secure funding to develop their assets, ensuring that the energy needs of Nigeria and Sub-Saharan Africa are met.

Platform Petroleum Limited is a leading oil and gas company in Nigeria, committed to sustainable development and the inclusive growth of host communities. Through strategic partnerships and innovative practices, the company aims to significantly contribute to meeting the energy needs of Nigeria and Sub-Saharan Africa.