Diri seeks Bayelsa’s stake in $3.5b fertiliser, petrochemical project, says PIA is ‘time bomb’
Bayelsa State Governor Douye Diri has called for a review of Nigeria's Petroleum Industry Act (PIA), claiming it fuels intra-communal conflict and is a "time bomb" due to its exclusion of state and local governments. Diri argues the PIA's direct interaction with communities, bypassing state constitutional rights over land, has created disputes, hindering development. He made the call during a meeting with the Brass Fertiliser and Petrochemical Company, soliciting an equity stake for Bayelsa State in the $3.5 billion project to mitigate negative impacts stemming from the PIA's perceived flaws. The company's Managing Director, Ben Okoye, announced the project's commencement in October, delayed due to gas component agreements, and praised the Nembe-Brass Road for significantly reducing logistics costs.
