Sultan Rabiu
The Minister of State for Petroleum Resources, Senator Heineken Lokpobiri,has unveiled a strategic plan aimed at overcoming challenges and seizing opportunities within the nation’s petroleum sector.
Speaking at the Cross Industry Group meeting in Istanbul, Turkey on Saturday, Lokpobiri emphasized the industry’s vital contribution, accounting for approximately 85% of government revenue and a key source of foreign exchange.
The minister outlined a dual strategy focusing on maximizing crude oil production while facilitating a transition to cleaner energy.
He stressed the government’s commitment to addressing operational bottlenecks and enhancing infrastructure to boost revenue.
Lokpobiri acknowledged the need for cost reduction and operational efficiency, particularly in upstream activities, to remain competitive globally. He highlighted the government’s prioritization of natural gas as a cleaner alternative and the exploration of renewable energy options to diversify Nigeria’s energy mix.
