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FG to expand on petroleum sector gains – Minister - BUSINESSDAY

MAY 18, 2017

Following the visit of the Minister of state for Petroleum Resources, Emmanuel Ibe Kachikwu to the United States of America, where he led Nigeria’s delegation to the Offshore Technology Conference (OTC) in Houston Texas,‎ the Minister assured of Federal government’s determination to build on recorded successes in the petroleum sector.

The Minister while speaking to the United State officials during the tour disclosed that the Federal Government of Nigeria under the leadership of President Buhari has clearly set out the choices that have to be made as a nation over the next 4 years. The government have also taken significant steps in achieving this through the continuous implementation of the 7BigWins.

The 7BigWins is the Nigerian petroleum roadmap which focuses on  stabilizing the business environment, enshrining openness and transparency, developing and entrenching new policies and regulations.

Kachikwu also hinted on the launch of a pet project – “Project 100” aimed at maximizing and unleashing talents by identifying 100 Nigerians who have access to finding and are willing to make a change in the industry. The ministry will collaborate with them to find solutions to the industry’s problems with a view to set Nigeria on the path of glory.

As part of the official visit, the minister held a meeting with a delegation of the United States Departments of State and Energy at the United States Department of State in Washington D.C.

The meeting had in attendance Ambassador Mary Bruce Warlick, Acting Special Envoy and Coordinator for International Energy Affairs at the Department of State who led the United States discussions during the meeting which was grouped into two sessions the reform session and investment session respectively.

The Acting Special Envoy and Coordinator for International Energy Affairs stated that Nigeria remains a critical priority for the US in Africa and bilateral relations, which are increasingly rooted in the shared values of both nations are delivering results.

She further commended Nigeria on the significant steps taken in the Oil and Gas Industry reforms especially in the area of shared insights gained by the US team from reviewing the National Oil policy, The National Gas policy, The Fiscal policy and the draft of the Petroleum Industry Governance Bill and Petroleum Industry Fiscal Bill developed by the Ministry of Petroleum Resources.

Ibe Kachikwu further reiterated the positive impact that the ongoing engagement in the Niger Delta and Oil Producing States led by the Acting President;  Yemi Osinbajo is yielding results as evidenced by the  near zero militant incidence and normalcy in production activity being restored in the region.

 Part of the presentation by the Minister was comprehensive and holistic developmental framework encompassing all Government Agencies and stakeholders, targeted directly at addressing gaps in the communities is being deployed with the 20-point Agenda that outlines the Roadmap to closure for militancy in the Nigerian Oil and Gas sector.

He also harped on the need to work together with the US to sustain progress on reforms and match it with increased international investments in Nigeria’s Oil and Gas sector. Other areas of collaboration the Honorable Minister of States urged the US to invest in include capacity building, and acquisition of technology.

As part of the discussions during the roundtable, Ambassador Warlick informed the Minister of State, that a team of Nigerian Senators met the US team on Friday May 5, 2017 to discuss progress on legislations relating to the Nigeria Oil and Gas industry.

The  Minister responded to the visit of the Senators by stating that there has been a very high level of collaboration between the Executive and the Legislature in the passage of bills before the National Assembly and also cooperation in proffering far reaching solutions that will grow Nigeria’s Oil and Gas sector.

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