Deputy Speaker of the House of Representatives, Hon Yussuff Lasun yesterday told a delegation from the Nigeria Extractive Transparency Initiative, NEITI, that Nigeria had lost the oil industry.
Lasun stated this when the NEITI delegation led by its executive secretary, Waziri Adio, presented its 2013 report to Lasun in his office.
The deputy speaker said that with his little experience as an engineer and youth service with Shell, he was much aware that Nigeria had lost the oil industry.
He lamented that so many things had gone wrong in the industry, stressing that nobody was talking on how the local content act had been complied with.
The deputy speaker said that he felt saddened when he sees what goes on in the oil industry.
Lasun noted that Nigeria was probably the only country globally not getting what it should from its oil.
He observed that Malaysia is a country of about 30 million people with 800, 000 barrel per day, adding that oil was not its major income earner.
The deputy speaker, however, called on NEITI to go back and come up with those areas that needed legislations.
He said they had always insisted that corporate bodies and professionals should come up with legislations that would help grow the sector.
Earlier in his brief remarks, the executive secretary of NEITI, Waziri Adio hinted that the report contained areas that needed legislation and areas that needed oversight.
He pointed out that NEITI needed strong legislations and oversight to strengthen its operations.
It would be recalled that in February 2016, President Muhammadu Buhari constituted the new governing board of NEITI with the publisher of Metropole Magazine, Waziri Adio, as its executive secretary.
Adio was appointed alongside 23 others to serve as the National Stakeholders Working Group, NSCG, otherwise known as the Governing Board of NEITI.

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