New Telegraph 
The Managing Director of Platform Petroleum Limited, Mr. John Anim, has said the Petroleum Industry Act (PIA) has transformed the investment climate in Nigeria’s oil and gas sector. He spoke during the “Investment Opportunities in Nigeria” panel session at the “Invest in Africa Energy 2024” in Paris, France, according to a statement.
He said the PIA has significantly improved the investment landscape since its enactment three years ago. According to him, one of the major constraints in the Niger Delta is security challenges, which, he noted had seen substantial improvement. He attributed past security issues to the exclusion of host communities from the benefits of oil and gas activities. The PIA’s focus on including these communities as major stakeholders has effectively transformed the landscape by making host communities major stakeholders through the Host Community Development Trust.
“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 minimised, and the resources are shared more equitably,” Anim said.
He emphasised that the collaboration between communities and operators was a testament to the improved investment climate in Nigeria and commended the current administration’s efforts to enhance the ease of doing business, which has made the environment more welcoming to investors. He stated that the collaboration ensured that operations are seamless, and that this is crucial for attracting further investments.
Anim also called for increased collaboration within the industry saying that “partnership and collaboration are crucial for success in the energy sector. No company can operate in isolation.”
He added that Platform Petroleum Limited was fully positioned to attract foreign partners and secure funding to develop their assets, to ensure 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 and that through strategic partnerships and innovative practices, the company aims to contribute significantly to meeting the energy needs of Nigeria and Sub-Saharan Africa,” the statement added.
