By Grace Udofia
Abuja—Chairman, Senate Committee on Petroleum Resources, Upstream, Senator Tayo Alasoadura, yesterday, said that the legislature may pass a law that will mandate respective oil producing companies in the country to contribute a certain percentage of their budget to the Petroleum Development Trust Fund, PTDF, for capacity building in the industry.
Senator Alasoadura disclosed this at the first PTDF Oil Exploration and Production Companies Summit in Abuja.
He explained that most of the funds allocated to PTDF were not released to them which had led to the accumulation of extensive liabilities for the establishment in the course of executing its institutional human capacity building projects.
He said that this resulted in the scaling down of the operations of PTDF.