The Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri has reiterated the commitment of the Federal Government to unlock the nation’s natural resources for economic prosperity of Nigeria in line with President Bola Tinubu’s renewed Hope agenda.
The minister made the declaration during a Ministerial briefing held to mark one year of the administration in office.
Sen Lokpobiri highlighted the challenges faced by the Oil and Gas Sector over the past 12 years, particularly the prolonged passage of the Petroleum Industry Act (PIA) and inconsistent government policies.
He obsérved that the issues had deterred potential investors and led them to seek opportunities in other countries.
Sen Lokpobiri, overseeing the Petroleum Resources (Oil) portfolio, emphasized the significant efforts undertaken to restore investor confidence and create a conducive business environment within the Oil and Gas Sector.
Addressing concerns about recent fuel scarcity experienced by Nigerians, the Minister assured citizens that the ministry is actively engaging with key stakeholders, including MEMAN, NARTO, and IPMAN, to ensure smooth and effective distribution of petroleum products across the nation. He urged Nigerians not to panic, emphasizing ongoing efforts to address the challenges.
A notable highlight of the event was the relaunching of the National Information portal, signaling a commitment to enhance transparency and accessibility in the petroleum sector.