P
ProfRem
Guest
President Muhummadu Buhari has unveiled Seven Big Wins, as part of short to medium term strategy framework with robust priorities to grow Nigeria’s oil and gas sector.
The seven big wins to revamp and revive the sector will focus on key areas including Niger Delta development and security of the oil producing region; policy and regulation; business environment and investment drive; transparency and efficiency; stakeholder management and international coordination; gas revolution, refineries and local oil production capacity.
At the unveiling of the roadmap on Thursday, the president noted that the oil and gas sector was still a critical revenue point for the country despite the drastic dip in global crude oil prices at the international market.
“As important as it is to ensure that Agriculture, Solid minerals and other critical sectors of the economy are supported to grow and contribute more to the nation’s economy, we still need a virile and efficient oil and gas industry to take care of our foreign exchange requirements,” he said.
The president urged the Ministry of Petroleum to ensure that it delivered on the expectations contained in the document to bring about the speedy development of the oil and gas industry.
The Minister of State for Petroleum, Ibe Kachikwu, who gave a breakdown of the big wins, said it was time for Nigeria to take drastic steps to fix the sector.
The implementation of the wins would increase government streams of income and ensure a zero tolerance level for militancy in the Niger Delta, he said.
The seven big wins to revamp and revive the sector will focus on key areas including Niger Delta development and security of the oil producing region; policy and regulation; business environment and investment drive; transparency and efficiency; stakeholder management and international coordination; gas revolution, refineries and local oil production capacity.
At the unveiling of the roadmap on Thursday, the president noted that the oil and gas sector was still a critical revenue point for the country despite the drastic dip in global crude oil prices at the international market.
“As important as it is to ensure that Agriculture, Solid minerals and other critical sectors of the economy are supported to grow and contribute more to the nation’s economy, we still need a virile and efficient oil and gas industry to take care of our foreign exchange requirements,” he said.
The president urged the Ministry of Petroleum to ensure that it delivered on the expectations contained in the document to bring about the speedy development of the oil and gas industry.
The Minister of State for Petroleum, Ibe Kachikwu, who gave a breakdown of the big wins, said it was time for Nigeria to take drastic steps to fix the sector.
The implementation of the wins would increase government streams of income and ensure a zero tolerance level for militancy in the Niger Delta, he said.