A roadmap for the development of Nigeria’s oil and gas sector, named the ‘7 Big Wins’ has been formally launched by the President in Abuja.
The document contains the short and medium term priorities to grow the nation’s oil and gas industry from 2015 to 2019.
President Muhammadu Buhari said that although his administration is making concerted effort to diversify into agriculture and solid minerals, the petroleum sector still requires adequate attention.
The big wins include Niger Delta and security, policy and regulation, business environment and investment drive, transparency and efficiency, stakeholder management and international coordination, gas revolution and refineries and production capacity.
The event held at the Banquet Hall of State House, Abuja, had in attendance, dignitaries such as Zamfara State Governor, Abubakar Yari; Minister of State for Petroleum Resources, Dr Ibe Kachikwu; Chairman House Committee on Petroleum Upstream, Victor Nwokolo; Permanent Secretary Ministry of Petroleum Resources, Mrs Jamila Shua’ra.
Also present were NNPC GMD, Maikanti Baru; the Amanyanabo of Twon Brass Bayelsa State, HRM King Alfred Diete Spiff; Secretary to Government of Federation, Babachir Lawal and Chairman Senate Committee on Gas, Senator Albert Bassey.
Buhari said at the event that the golden era of high oil prices may not be here now, but Oil and Gas resources still remain the most immediate and practical keys out of our present economic crisis.
“Oil and Gas still remain a critical enabler for the successful implementation of our budget as well as the source of funds for laying a strong foundation for a new and more diversified economy.
“As important as it is to ensure that Agriculture, Solid minerals and other critical sectors of the economy are supported to grow and contribute more to the nation’s economy, we still need a virile and efficient oil & gas industry to take care of our foreign exchange requirements.
“This is a national imperative and a core thrust of our economic policy. Therefore, the task before the Ministry of Petroleum Resources is to maximize the potentials and opportunities across the whole range of the Oil and Gas industry to stimulate our economy in spite of the current challenges.”
To do this, Buhari says certainly requires creativity, innovation, technology and robust partnership amongst various stakeholders.
“There is also a dire need to instil a new culture of transparency and efficiency in the industry, streamline operations along best practices by championing and implementing strategic reforms at every layer of the industry.
“This will help us improve oil and gas production, explore our frontier basins, improve our local refining capacity and above all build sustainable partnerships with the oil producing communities.
“If we are able to plug the leakages, and tighten loose systems that characterized this industry in the days of high oil prices, we are convinced that we can do even more with the little that we are getting at the moment than we did even in the time of plenty.
“As you are aware, recent developments in the Niger Delta have temporarily limited our oil and gas production and supplies. However, let me reaffirm that, whatever challenges we are currently facing in the region, our resolve and capability to work with all stakeholders to restore normalcy will guarantee success.
“I congratulate the Honourable Minister of State Petroleum Resources and his staff for putting this together and the good work he has been doing in transforming the Oil and Gas Industry.”
The Roadmap, he said, reflects the vision and aspiration of this Administration for this sector and urge you all to deliver on the expectations contained in the Petroleum Industry Roadmap.
“I also acknowledge the importance of the public, the media, local and foreign investors and other critical stakeholders in the oil and gas industry and appeal for their support and cooperation as we seek to consolidate CHANGE in this very important sector of our national economy.”
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