The Federal Government has assured states with potential deposit of oil that it is willing to commit Funds for exploration and exploitation of such deposits
Sen. Heineken Lokpobiri made this position known when the Governor of Kogi State Alhaji Usman Ododo and his entourage paid him a courtesy visit in his office aimed at fostering productive collaboration between the State and the Ministry of Petroleum Resources.
According to him, “In line with the provisions of the Petroleum Industry Act (PIA), which empowers the Ministry to carry out exploration in areas of great prospect through the Frontier Exploration Fund, we are identifying regions with high mineral exploration potential, in conjuction with the Nigerian National Petroleum Company Limited (NNPCL) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
“As Kogi State has joined the league of oil-producing States, I assured the Governor that the State will witness increased seismic activities as we work towards discovering more oil fields, thereby boosting output and enhancing revenue share.
“The Ministry is fully committed to partnering with any State Government in these efforts, especially as we continue to record significant investment commitments from International Oil Companies (IOCs) and the Independent Petroleum Producers Group (IPPG), thanks to President Bola Ahmed Tinubu’s leadership in transforming our oil sector.”
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