Some oil and gas stakeholders have raised concerns over the alleged ‘irregularities’ surrounding the ongoing renewal of over 42 oil licenses. Even though the Ministry of Petroleum had refuted the presence of sharp practices in the exercise, the stakeholders are not satisfied with the way the things are being done. The stakeholders insist that renewing the licenses without passing the Petroleum Industry Bill (PIB) remained a major setback for the country. Already, the Petroleum Act of 1969, as well as the

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