Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), has reaffirmed the administration’s commitment to harnessing Nigeria’s natural resources for economic prosperity, in line with President Bola Tinubu’s renewed Hope agenda.
At a ministerial briefing marking the administration’s first year in office, Senator Lokpobiri addressed the challenges that have plagued the oil and gas sector over the past 12 years, notably the delayed passage of the Petroleum Industry Act (PIA) and inconsistent government policies. These issues, he explained, have discouraged potential investors, prompting them to seek opportunities elsewhere.
Senator Lokpobiri, in his role overseeing Petroleum Resources (Oil), highlighted significant efforts to rebuild investor confidence and foster a conducive business environment within the sector.
Regarding the recent fuel scarcity affecting Nigerians, the Minister reassured the public that the ministry is actively collaborating with key stakeholders, including the Major Oil Marketers Association of Nigeria (MEMAN), the Nigerian Association of Road Transport Owners (NARTO), and the Independent Petroleum Marketers Association of Nigeria (IPMAN), to ensure efficient distribution of petroleum products nationwide. He urged citizens not to panic, emphasizing ongoing measures to resolve these issues.
A key moment of the event was the relaunch of the National Information Portal, underscoring the administration’s dedication to enhancing transparency and accessibility in the petroleum sector.
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