The Minister of Petroleum Resources (Oil), Heineken Lokpobiri has assured that with the expected $50 billion in investments, the country’s efforts to attract more investment and promote divestment in the oil sector, aimed at ramping up production will yield more results.
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Speaking on Wednesday in Abuja during an interactive session with members of the Nigerian Guild of Editors, the Minister disclosed that the country is a not stopping yet to invest.
He revealed that the Government was actively working to address all challenges urging the editors to shift the narrative so Nigerians will understand that progress is being made.
Lokpobiri said that the country has moved production from the 1 million barrels per day (mbpd) where he met to 1.5 mbpd.
Maintaining that the target is to go beyond that, A he added that achieving this had required significant investment from International Oil Companies (IOCs) and Indigenous Petroleum Producers Group (IPPGs).
He said:” We are working harmoniously. Thanks to President Tinubu for his support. We have successfully secured new investment and divestment deals, which the President referenced in his Independence Day speech.”
“These investments are crucial, and we will continue to push forward in this direction.” He disclosed.
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