Lokpobiri Hails Indigenous Acquisition of Shell Assets, Commends Tinubu’s Visionary Leadership
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has described the ongoing transformation in Nigeria’s oil sector as a significant step toward greater productivity and national benefit, particularly with indigenous companies now acquiring assets previously held by International Oil Companies (IOCs).
Speaking during a courtesy visit by a delegation from Renaissance Africa Energy Holdings, led by its MD/CEO, Dr. Tony Attah, the Minister applauded the recent acquisition of Shell Petroleum Development Company of Nigeria’s (SPDC) assets by the firm. He emphasized that the development aligns with President Bola Ahmed Tinubu’s directive that all divestment-related issues be resolved without delay.
“I conveyed the expectations of Nigerians, that this acquisition must translate into increased value, efficiency, and national benefit,” Senator Lokpobiri stated.
While commending Renaissance Africa Energy Holdings for their strategic move, the Minister urged the company to key into the Federal Government’s renewed drive to boost oil production. According to him, doing so will ensure mutual profitability for both the company and the country.
Senator Lokpobiri reaffirmed the government’s support for Renaissance and lauded President Tinubu’s visionary leadership for creating an enabling environment for such transformative milestones in the nation’s oil sector.
“This positive shift is evidence of the President’s commitment to repositioning Nigeria’s oil and gas industry for sustainable growth,” he added.
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