The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has urged the National Assembly to urgently iron out all contentious areas in the Petroleum Industry Bill...
• Faults Works Minister’s Proposal For Monthly Rent Collection
Meanwhile, the Institution has faulted the proposal by the Minister of Works and Housing, Babatunde Fashola, for monthly rent collection by property owners, arguing that government cannot control what it does not own.Fashola had recently said multiple years’ rent collection has made affordable homes inaccessible to Nigerians, especially in the urban centres of Lagos, Abuja, Port Harcourt, Kano, and Ibadan, among others.
Undoubtedly, this would address corruption in the company and make it more efficient. There would be clarity, accountability and transparency in the administration of petroleum resources. New rules for environmental cleanups, new dispute-resolution mechanisms between government and oil companies, and a midstream government infrastructure fund will be constructive. These will help protect the environment and the host communities’ interest.
“We have always believed in Public-Private Partnership as a better way of getting policies implemented and projects executed. Not only that, conducive business environment for petroleum operations will be achieved, and international and indigenous petroleum companies will thrive better under a commercially oriented national petroleum company regime.
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