The Speaker of the House of Representatives, Abbas Tajudeen, has reaffirmed Nigeria’s commitment to maintaining a stable and transparent investment environment in the oil and gas industry, assuring investors that the Petroleum Industry Act (PIA) will continue to guide operations and partnerships in the sector.

This assurance was delivered by Alhassan Ado Doguwa, Chairman of the House Committee on Petroleum Resources (Upstream), at the Project 1MMBOPD Incremental Production Forum held at the Dorchester Hotel in London. The global event, organized by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), was aimed at attracting new investors and boosting Nigeria’s crude oil output.

Doguwa stated that the House of Representatives remains firmly committed to promoting the PIA as the key legal framework supporting investment stability, accountability, and sector growth.

He emphasized that the initiative aligns with both the 10th House of Representatives’ Legislative Agenda and President Bola Ahmed Tinubu’s Renewed Hope economic plan, which seek to increase production capacity and enhance investor confidence in Nigeria’s energy sector.

“This engagement represents a major opportunity for collaboration and growth,” Doguwa said, noting that the National Assembly would continue to support policies that foster transparency and fairness in the oil industry.

He added that the legislature would keep working closely with the executive arm to ensure a business-friendly atmosphere that encourages both local and international participation in Nigeria’s petroleum industry.

Doguwa also conveyed Speaker Tajudeen’s appreciation to Nigerians for their patience and resilience, assuring them that parliament remains committed to enacting policies that drive investment, job creation, and sustainable development in the oil and gas sector.