Lokpobiri Appreciates Tinubu For Addressing Challenges In The Oil/Gas Sector.

 

Heineken Lokpobiri, Minister of states for Petroleum Resources (Oil), has appreciated President Bola Ahmed Tinubu, for Swifty addressing the longstanding investments  challenges that had hindered the oil  and gas sector in the past.

Speaking at Abuja  during the Inter-Ministerial/Energy Leadership Roundtable with a theme, “Catalyzing Global Investment: Policy Pathways to Unlock Africa’s Energy Potential, the Minister maintained that the Nigeria  has achieved a production increase "from the 1mbpd we met upon resumption to the current 1.8mbpd.

"I must extend profound appreciation to President Bola Ahmed Tinubu, whose decisive leadership swiftly addressed longstanding investment bottlenecks that had hindered the sector’s progress. 

"Achieving a production increase from the 1mbpd we met upon resumption to the current 1.8mbpd, inclusive of condensates, would not have been possible without significant additional investments from industry players. 

"From the issuance of targeted Executive Orders to the full implementation of the Petroleum Industry Act (PIA) and full deregulation of the downstream sector, we have created an investment-friendly environment that continues to attract global and local capital into the energy sector.

"Notably, Africa’s proactive establishment of the Africa Energy Bank has galvanized access to funding, empowering indigenous investors to compete favourably with International Oil Companies (IOCs) across all industry streams. 

"This momentum is projected to be sustained, ensuring long-term growth and resilience in Africa’s energy sector." The Minister narrated.