The Nation Newspaper

Tag: John Ofikhenua

  • NNPC assures of petroleum products nationwide

    NNPC assures of petroleum products nationwide

    The Nigerian National Petroleum Corporation (NNPC) has urged motorists and other petroleum products consumers across the country not to engage in panic buying.

    The terse statement which the corporation issued in Abuja on Monday said that “NNPC wishes to state that relevant government agencies are in consultation with industry unions to arrive at an amicable resolution of issues over which there are threats of industrial action.

    “NNPC warns marketers not to hoard products as law enforcement agencies, working with industry regulators, have been detailed to take appropriate measures against any defaulter.

    “The Corporation further assures that there are enough petroleum products to keep the nation wet.”

     

  • EEP not mere street-lighting project for universities-ministry

    EEP not mere street-lighting project for universities-ministry

    The Ministry of Power, Works and Housing has said that the Energizing Education Programme (EEP ) of the Federal Government is not a mere street-lighting project.

    According to a statement by the Ministry, the Programme is aimed at rejuvenating the nation’s education system by providing uninterrupted power supply to a total of 37 federal universities and seven university teaching hospitals.

    The statement noted that the clarification has become necessary in the light of the misrepresentation of the Programme as a mere “Solar –powered streetlight project in nine universities across the country valued at N10bn,” a newspaper (not The Nation), while purportedly reporting the proceedings of the 2018 Budget Defence Meeting of the Senate Committee on Power, Steel Development and Metallurgy attended by the Managing Director of the Rural Electrification Agency on Thursday, 14th December 2017.

    The statement said the report claimed that the Senate “criticized a solar-powered streetlight project” thereby deliberately misrepresenting the Energizing Education Programme (EEP). Far from being a “streetlight” project, the EEP in fact seeks to rejuvenate the education system through electrifying a total of 37 federal universities and 7 university teaching hospitals, with Independent Power Plants (IPPS), which will boost effective learning, innovation and advancement through uninterrupted power supply.

    The ministry explained that in addition to helping to extend electrification to rural and underserved areas in which the institutions are located ultimately, the Programme will enable the institutions benefit from world-class training schools, for the training of students in renewable energy, as well as provide optimized security, for the safety and wellbeing of students and staff, through the installation of streetlights on campus which is only a small component of the Project.

    Although implementation of this programme is led by the power sector, through the Rural Electrification Agency, the Vice Chancellors and the  Ministry of Education have signed onto this as a critical investment in the education sector.

    The deliberate attempt to water down the significant impact this Programme will have on the enhanced education of Nigerian students is outright unpatriotic as it seeks to prevent the socio-economic development of our nation.

    In addition to the open and transparent coverage of the milestones attained preparatory to the take-off of the Project like the Meetings and signing of the Memorandum of Understanding between the REA and the first set of participating tertiary institutions, the Ministry holds itself ready to provide further details to the media and any other interested entities to stem any further misrepresentation.

  • Hungary interested in Nigerian crude, LNG

    Hungary interested in Nigerian crude, LNG

    At a time that international crude oil market is getting more competitive, the Hungarian Government has indicated interest to purchase crude oil and Liquefied Natural Gas (LNG) from Nigeria.

    The Hungarian Ambassador to Nigeria, Professor Gabor Ternak, who disclosed this during a courtesy call on the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru,  in Abuja, said the decision to import crude oil and LNG from Nigeria was informed by the need to bridge the current supply gap being experienced in Hungary.

    “Hungary depends on oil importation to serve its energy needs as the country is non-oil producing. We want to diversify our sources of crude oil and LNG import and we are considering purchasing these products from Nigeria,” Ambassador Ternak stated.

    The NNPC’s Group General Manager, Group Public Affairs Division,  Mr. Ndu Ughamadu made this known in a statement on Wednesday.

    He said the Nigerian crude oil would be of great help to Hungarian Refineries involved in large scale commercial refining.

    The Hungarian envoy stated that Nigeria could also leverage on the bi-lateral relationship with his country by engaging the services of Hungarian firms that specialize in repairs, maintenance and building of refineries as well as medical services.

    He said that Hungarian universities with many years of oil and gas engineering expertise, could assist Nigeria in the areas of capacity building of oil workers.

    In his remarks, the NNPC GMD, Dr. Maikanti Baru, stated that the Corporation had commenced tendering process for the selection of the 2018 crude oil off-takers, adding that Hungarian companies could utilize the opportunity by participating in the exercise to maximize value from direct purchase, rather than going through a third party.

    “If you don’t participate in the tendering process, you would have to buy the products from one of the traders. However, if you participate with companies and refineries that meet our requirements, they could be shortlisted as off-takers,” The GMD averred.

    He explained that Hungary could purchase LNG through “spot cargo,” an arrangement in which excess production is given to registered off-takers with the Nigerian Liquified Natuaral Gas Limited (LNNG).

    “Normally, gas business is a long-term business and NLNG is not different, we already have existing 20-year contract that will expire by 2022. Nevertheless, we have what is called “spot cargoes”, when there is excess production, and the current contractors have gotten there share as enshrined in the contract, the excess production will be given to registered off-takers in the system,” Dr. Baru averred.

    He said Hungarian companies could submit their profile to NLNG for possible engagement as off-takers of spot-cargoes after meeting the standard requirements.

    The NNPC GMD stated that works on refurbishment of the Corporation’s refineries through original builders of the plants had commenced and that the Hungarian firms with requisite expertise could be considered through subcontracting by the main contractors.

    He said that NNPC through its subsidiary institution, the Nigerian Leadership Academy (NLA), would look into possible areas of collaboration with the Hungarian Universities for in-country capacity building of oil and gas workers.

    As part of the Corporation’s diversification plans, Dr. Baru said the NNPC, which has the largest medical facilities in the country from a single entity, was trying to put its 52 clinics across the country into commercial use, starting with its clinic in Abuja.

    He said NNPC would collaborate with Hungarian and other reputable companies that have proven capabilities to set-up world-class medical facilities for heart, spinal and brain surgeries as well as physiotherapy and specialized laboratories services that can compete globally and save Nigerians the burden of traveling abroad for treatment.

  • OMPALAN to FG: stop foreign invasion of solid minerals

    OMPALAN to FG: stop foreign invasion of solid minerals

    The Board of Trust Deputy Chairman, Oil and Solid Mineral Producing Area Landlords’ Association of Nigeria (OMPALAN), Prof. John Ndanusa Akanya at the weekend called on the Federal Government (FG) to bring sanity to the solid mineral industry by stopping foreign invasion of mineral sites in the north.

    Its chairman of Advisory Board, Shehu of Borno, Abubakar Garbai, who was represented by Wakilin Shehu, B.M. Auta, urged traditional rulers in oil and solid minerals producing areas to rule with the fear of God.

    He asked the the youths to respect the rule of law, noting that they are the future leaders of the country.

    Meanwhile, the North West Youth Leader, Umar Makeri sought the mobilization of the youths in Nigeria in order to make them more productive.

    The spoke an interactive meeting with the leaders of the association from North East, North West, North Central, and South West in Abuja.

    Speaking, the association BoT chairman, Bishop Azogu noted that the inability by leaders of the association to deliver on their key responsibility of protecting the interest of impacted communities has necessitated the ongoing restructuring of OMPALAN in order to make it more responsive to emerging challenges.

    The apex regional leaders, he said, shall work with other leaders in their regions to identify capable individuals who buy into the OMPALAN vision and are willing to make the necessary sacrifice to deliver the goods.

    He submitted that for Nigeria to progress there must be stability and respect for the rule of law.

    According to him, “the  association has developed a home-grown blueprint designed to generate gainful employment opportunity for the teeming jobless youths, end violence and enthrone the rule of law in the three oil producing regions of South South, South West and South East.

    “The bottom-up proposal called ‘Mining Security & Monitoring Agency of Nigeria (MISMAN) seeks to engage entrenched institutions in impacted communities in the security of oil company personnel, installations and equipment.”

    Azogu submitted that the  departure from previous and flawed arrangement by the Federal Government and other development agencies that entrust security of mining sites to dominant youth leaders purely on the basis of their ability to bare their fangs resulting in the multiplicity of war lords that flex muscle with government and security operatives – threatening to breach constitutional peace at the slightest provocation. The chairman noted that with  MISMAN no youth leader no matter how powerful or their sponsors can overrun their host community.

    Continuing, he said that “We, in OMPALAN cannot allow a situation where a few aggrieved individuals employ the services of lawless youths to stoke perpetual tension and deny entire oil producing regions access to democratic deliverables. “Over the years robust palliative programs have been rolled out by the Federal Government to cushion the harsh effects of mounting environmental degradation in local communities of oil producing areas but, these programs have had very little impact on account of political corruption.

    “MISMAN incorporates robust mechanism to monitor and ensure that palliative programs released from the top are safely delivered at the bottom. We do not hear of militancy in oil producing Ghana because development agencies and impacted communities engage in an equitable and transparent manner. There is a win-win situation in Ghana.”

    Azogu commended President Muhammadu Buhari on the successful conduct of the just concluded gubernatorial election in Anambra State.

    He said that the success is a clear indication that the electoral reforms promised by the APC-led Government are on course.

    Chairman also congratulated Anambra State Governor Willie Obiano and the APGA party for coming out victorious, adding that “we salute other contestants and their political parties in Anambra State for supporting the rule of law before, during and after the gubernatorial election.”

  • PENGASSAN backs NNPC on exploration in inland Basins

    PENGASSAN backs NNPC on exploration in inland Basins

    The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has commended the Nigerian National Petroleum Corporation (NNPC) on the exploratory activities it has been spearheading in inland basins.

    PENGASSAN National President, Comrade Francis Johnson, who led the Central Working Committee (CWC) of the union on a courtesy visit to the NNPC Group Managing Director, Dr Maikanti Baru in Abuja, said the yeoman job being undertaken by the NNPC with regards to the frontier basins would benefit the nation ultimately.

    Johnson, according to the NNPC statement that made this disclosure, said the union’s fervent prayer was for a breakthrough to be achieved in the Corporation’s exploratory efforts in the basins.

    The Management of NNPC under the leadership of Dr. Baru, has in recent time, embarked on aggressive exploratory operations in the nation’s frontier basins of the Chad Basin and Benue Trough in line with the aspiration of the Administration of President Muhammadu Buhari to increase the reserves base of the country.

    Dr. Baru, since assumption of office last year, has drummed up support for the exploration activities with critical stakeholders in Bauchi, Borno, Sokoto and Nassarawa State.

    In Nassarawa State recently, he disclosed that NNPC’s Frontier Exploration Services (FES), a services company of the Corporation, had mobilized the Integrated Data Services Ltd (IDSL), (an Upstream arm of the NNPC) to acquire seismic data in the Benue Trough commencing from the Keana area.

    At the visit to the GMD, the PENGASSAN National President also commended the NNPC GMD for collaborating with other government agencies and critical stakeholders to bring about efficiency in the Petroleum Industry, adding that his efforts has also led to the improved products supply situation being enjoyed in the country.

    Comrade Johnson said the NNPC Management was capable of returning the refineries to profitability while expressing the union’s confidence in the Corporation’s effort in that regard.

    “PENGASSAN will support any effective, efficient and sustainable model that can make the refineries viable,’’ Comrade Johnson said.

    He also called on the GMD to intensify the ongoing rehabilitation of the downstream facilities, especially the depots, pipelines, tank farms and jetties to further ensure seamless supply of products across the country.

    On the Petroleum Industry Bill, the PENGASSAN President emphasized the need for its speedy passage, adding that the unions were ready to collaborate with the National Assembly to resolve knotty issues associated with it.

    Responding, Dr. Baru disclosed that President Muhammadu Buhari had mandated him and the NNPC Management to bring back the refineries to their glorious days and thanked the unions for their belief in his capability to deliver on the president’s mandate.

    He said funding had been a major challenge in the rehabilitation of the refineries but was however optimistic that the various options being explored would yield positive results.

    The GMD expressed appreciation to the unions for their support in his effort to move the Petroleum Industry forward, while lauding their pragmatic approach to handling issues, saying this has helped to bring about industrial harmony.

    On his part, Chief Operating Officer (COO), Corporate Services, Alhaji Isah Inuwa, urged the unions to continue to work on the part of amity, while assuring them of NNPC management’s readiness to continue to collaborate with them in the overall interest of the Industry and the nation.

  • Afam IV power plant: SPDC laments over $200m debt

    Afam IV power plant: SPDC laments over $200m debt

    The Shell Petroleum Development Company (SPDC) on Tuesday lamented over its operation and $200million debt in Afam IV Power Plant in River State.

    According to the General Manager, Dr. Philip Mshelbila, the reason the plant has still been in operation despite the debt profile and underutilization, is because the company has subsidized its cost.

    He made this known to the Nigerian Electricity Regulatory Commission (NERC) in Abuja during the presentation of renewed power -generation license to SPDC Joint Venture for the Afam VI Power Plant in Rivers State.

    He told the commission that: “It is a rather unfortunate situation where within our years of operation we are trying to cope with over $200million debt. And in spite that this power plant has still been in operation.

    “It is simply operated and subsidized by SPDC. That is the only reason we are still in this business and gas is available. We would have walked away a long time from it.”

    Mshelbila said that despite the vantage position the integrated 650MW plant that also has clean energy has always been underutilized.”

    The underutilization of the plant, according to him, is as a result of low repatriation of power by the plant’s off-taker and the Electricity Distribution Companies (DisCos).

    He submitted that: “It is still the most efficient and it is available. So if you need a lot of downstream aspect of transmission and distribution and so on, this plant can contribute as high as 15% of the nation’s power.”

    Meanwhile, the NERC’s General Manager, Legal, Licensing and Compliance, Mrs Olufunke Dinneh said that going forward, the commission is poised to enforce the terms and conditions of the license.

    She insisted that “non-compliance with the terms and conditions will be visited with a lot of enforcement powers that the commission has under its regulation.”

    She encouraged SPDC that while signing the terms and conditions it should ensure that the regulatory officers in the office or the compliance officer does his work to ensure that all the reporting requirements are met.

    Dinneh told the company that “whenever it is necessary for you to come for application for any kind of regulatory release those are the kind of things that NERC could be looking at in order to grant those release and support to you.

    “So, we want to encourage you to comply with the terms and conditions of the licence to ensure that you comply with the reporting requirement going forward because NERC will be strict in applying those regulations going forward.”

  • NNPC partners WAEC, others over science development

    NNPC partners WAEC, others over science development

    In its bid to grow the country’s educational sector, especial in terms of science and technology, the Nigerian National Petroleum Corporation (NNPC) on Tuesday, said it has entered a partnership with the West African Examination Council (WAEC), the Junior Engineering Technical Society, (JETS), and the Science Teachers Association of Nigeria (STAN).

    The corporation’s Group Managing Director (GMD), Maikanti Baru disclosed this at the grand finale of the 2017 National Quiz Competition.

    According to him, the NNPC prizes education dearly and was working with its partners to ensure that the best standard of its competition is maintained.

    He stated that it was in realisation of the importance of science and technology that the NNPC decided to promote Science, Technology, Engineering and Mathematics, STEM, education as a key element of its Corporate Social Responsibility, CSR, strategy, adding that there was the driving force behind its establishment of the quiz competition.

    He said: “In this respect, our arc tilts towards Science, Technology, Engineering and Mathematics, STEM, branches of knowledge, given the great roles they play in nation-building.

    “For a reason, STEM education creates critical thinkers, increases science literacy, and enables the next generation of innovators. Innovation is the pillars of any progressive economy.”

    Baru said the 2017 edition is the 16th in the competition’s history, stating that this edition had been expanded from the previous editions, while the prizes has been improved upon also.

    He noted that the 2017 edition took place in all the 774 local government areas of the country and also featured in states in the North-East, that were affected by insurgency.

    His words: “Beginning from this year, the corporation will be providing a one-off educational grant of N100,000 each for all state winners of the competition. This means that everybody on this podium today, regardless of his or her final position is assured of N100,000 from the NNPC to help defray the costs of their tertiary education.

    “For the overall winner of the competition, a scholarship award of N300,000 will be granted per session, while the second and third place winners will receive a scholarship award of N250,000 and N200,000 respectively per session for the duration of their tertiary education.”

    Baru added that the prizes are redeemable by the winners upon presentation of evidence of their admission into tertiary institutions whenever it may be.

    Also speaking, Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, commended the NNPC for its contributions to the growth of the Nigerian educational sector, stating also that the competition is unifying and bonding, in the fact that it was conducted across all the states and local governments in the country.

    Kachikwu assured the finalists that the competition present a veritable opportunity for them to further brighten their future.

    He called on the governors of the various finalists to make contact and mentor them as this would help them in their future endeavours.

    Speaking in the same vein, Speaker of the House of Representatives, Mr. Yakubu Dogara, also commended the NNPC for taking educational development as a crucial part of its CSR programme and also for its sustenance of the programme for 17 years.

    He stated that the NNPC’s contribution to education, especially for STEM becomes critical going by the fact that the country still has a lot to do in deepening science and technology.

    He expressed the support of the National Assembly in the progress of the contestants and students in general.

  • FG to protect abuse of nuclear materials

    FG to protect abuse of nuclear materials

    The Federal Government (FG) on Tuesday vowed to protect nuclear materials and radioactive sources from getting into the hands of non-state actors that may use them for destruction and criminal activities.

    The Director-General of the Nigerian Nuclear Regulatory Authority (NNRA), Prof. Lawrence Dim noted that the authority’s 2017-2020 strategic plan that affords the nation the first comprehensive blueprint for tackling nuclear safety and security in Nigeria.

    He noted that the agency has emplaced a regulatory control programme for nuclear safety and radiological protection regulation.

    Dim spoke at Abuja during the opening session of information meeting for national nuclear security which theme was “Emerging security threats and the need for an integrated approach,” which NNRA organised.

    The meeting whose participants were drawn from the Office of the National Security Adviser, Nigerian Army, Nigerian Navy, Nigerian Police, Department of State Security, Nigerian Immigration Service, among other security agencies, was meant for enhancing collaboration and fine-tuning strategies at securing nuclear materials and protecting lives and property.

    He noted that by the NNRA activities, the issue of nuclear safety, security and radiation protection has become very topical mainly because Nigerians were now becoming more informed about the harmful effects of the misuse of ionizing radiation.

    However, the NNRA Director General said: “Nigeria has been at the forefront of United Nations and International Atomic Energy (IAEA) efforts in ensuring that nuclear materials and radioactive sources do not fall into the hands of non-state actors and has over the years signed relevant security related international instruments like the Nuclear Non Proliferation Treaty (NPT), the Comprehensive Safeguards Agreement (CSA), Convention on the Physical Protection of Nuclear Materials (CPPNM), the Code of Conduct on the Safety and Security of Radioactive Sources, the International Convention for the Suppression of Acts of Nuclear Terrorism (ICSANT) and a host of others.”

    Further, he stressed that Nigeria is at the forefront of enhancing national and international nuclear safety and security regime, citing that it is guaranteed through the NNRA’s effective regulatory control programme.

    “It is our best hope of rebuilding trust and confidence, precise!y because it promises nobody, outside the national security framework. Without security, our efforts for a better Nigeria will be seriously compromised or will simply not succeed,” he said.

    While delivering a paper on the theme of the meeting, the Director-General of the Department of State Security who was represented by Mr. Paul Afunanya, noted that there is growing use of nuclear materials and the concerns to secure it against use by non-state actors.

    He said as the wind of democratic principles blows across the globe, there is a growing emergence of non-state actors who constitute a great challenge to security in the exercise of their perceived rights.

    He canvassed that in building integration in the areas of handling nuclear materials, there is the need for training, peer review, collaboration, and exchange of information among agencies.

    Earlier, the Director of Policy and Strategy, Office of the National Security Adviser, Umar Abba, said the office has been collaborating with NNRA to ensure the safety of lives, property and environment.

    He expressed hope that the outcome of the meeting would help in invigorating the nation’s nuclear use information.

  • Niger, Benin Republic pay FG N19billion for electricity

    Niger, Benin Republic pay FG N19billion for electricity

    The Minister of Power Works and Housing, Raji Babatunde Fashola on Monday broke a good news to the Electricity Distribution Companies (DisCos) that the Federal Government has received $64,630,055 (N19,712,166,775) electricity bill payment from the Niger Republic and the Benin Republic.

    According to him, the Nigeria Electricity Bulk Trading Company (NBET) is expected to work out the modalities before onward distribution to the DisCos.

    He spoke at the 21st Monthly Power Sector Ministerial /Stakeholders meeting at the Asaba, Delta State that Benin Electricity Distribution Company (BEDC hosted.

    The minister had earlier commissioned the 215MVA Asaba sub-station transformer, which, he said, will reduce the incidence of load shedding in the area.

    But speaking at the meeting, Fashola said that: “I have some good news for you as well. Some money has come in form the power we sell to Benin Republic and Niger Republic. People wonder why this is so. They are a product of treaties and agreements.

    “They also help our own economy.  So we have a total of $64,630,055 that has been recovered. So, NBET will work out the modality for distribution. And hopefully, by next month, you too, should be able to report that you have received an alert.”

    The minister also announced that the Federal Executive Council had on approved to resolve a meter contract dispute that it entered with a contractor since 2003, but the government’s approval last Thursday resulted in a court settlement which implies that the contractor can now have N37billion plus the interest that accrued over the time for provision of meters to the DisCos.

    Fashola urged the interested DisCos to liaise with the ministry and contractor for the supply of meters to their customers, adding that the deal is strictly between the contractor and the power firm while the ministry is only to make the facilitation with the meter supplier.

    He, however, urged the parties to note that the agreements will reach on meter supply will be subject to the regulation that the Nigerian Electricity Regulatory Commission (NERC) is about to present.

    His words: “But on a progressive note, I am also happy to report that the approval by the Federal Executive Council to resolve a meter contract dispute entered into since 2003, has now culminated in a court settlement that was concluded on Thursday, the 9th of November. 

    “What that means is that that contractor will now have N37billion plus the accrued interest of the money to make meters available to customers of DisCos. They have to work with the DisCos, so, DisCos who are interested in taking this over should contact the ministry, we will make the facilitation formally with the meters supplier. “We expect this to be a bilateral contract between you and them. We don’t want to get involved. We are just going to create a link and a handshake. Some of you are presumably already talking to them to get ready because you know them. 

    “The agreement you will reach with them will be subject to the regulations that is coming from NERC. So those who are concerned about meters as we promised something is being done and we are moving closer to implementation.”

    He revealed to the stakeholders that the Rural Electrification Agency (REA) has completed the guidelines for the operation of the Rural Electrification Fund.

    The minister explained that the fund is to provide partial capital payment (subsidy) rural electricity operators.

    The minister added that ” what the fund seeks to do is to provide a partial capital payment by way of subsidy for technical assistance to eligible private rural power development operators and also to end users for communities for options as hybrid solar and to generally scale up rural access to electricity.”

    He said the fund is to facilitate investment in hybrid mini-grid, solar system and to generally scale up rural access to electricity. 

    The minister noted that those that fund will serve are the unserved rural communities.

    The fund, according to him, will provide a minimum of $10,000 and the maximum amount of $300,000 which 75% of the project cost. 

    He said the REA will publish the guidelines and eligibility criteria in the national newspapers.

    Fashola said that the  Nigeria Electricity Supply Industry (NESI) has been lucky this year benefiting from the availability of water from the hydro and experiencing peace in the Niger Delta for adequate gas supply.

    He promised that even as the rain is receding, there is sufficient gas available for firing the turbines for adequate power supply for the rest of the year.

    Speaking, the Managing Director, Benin Electricity Distribution Company (BEDC), Mrs Funke Osibudo had said that there has been a response of the Federal Government to the theft and vandalism of electricity installation through the Inspector General of Police who has established a special anti-vandal response force in the area of operation.

    She also announced that the company was making progress in the management of load and outage management.

    The Chief Executive Officer said that the BEDC has improved its bill collection method with the introduction of the billing calculator.

  • FG to launch infrastructural map – Kachikwu

    FG to launch infrastructural map – Kachikwu

    The Minister of State for Petroleum Resources, Dr Emmanuel Ibe Kachikwu on Wednesday said that the ministry is developing a comprehensive and holistic infrastructural map that it would launch in December 2017.

    He also highlighted the local content growth which the Nigeria Oil & Gas sector has experienced, which he said, has moved from 5% at the inception of this Administration to about 40% local content compliance currently.

    He made this known while discussing issues relating to infrastructural development in the sector in a meeting with the Secretary of Energy of the United States of America, Mr. Rick Perry at the sidelines of the 24th Africa Oil Week currently holding in Cape Town, South Africa as part of his ongoing investment focused international Oil and Gas engagements.

    Kachikwu also used the opportunity to invite the Secretary of Energy and his team to participate in the forthcoming maiden edition of the Nigerian International Petroleum Summit (NIPS) scheduled to hold in February 2018 in Abuja, Nigeria.

    While speaking at the meeting, Rick Perry commended Nigeria on the significant steps taken in the Oil and Gas Industry, and stated that the key message and thrust of the United States administration is to be strategic partners with Nigeria.

    He further stated that the United States Government has a high level of respect for the people of Nigeria and pledged willingness to continue to encourage US companies to invest in Nigeria’s oil sector.

    The ministry’s Director, Press, Idang Alibi disclosed this in a statement issued to journalists on Wednesday.

    According to the statement, the landmark meeting which is the first of its kind between the two leaders of the energy sector in both countries since the inauguration of the new administration in the United States comes as a follow up to an earlier meeting that was hosted by the Office of the Secretary of Energy earlier in May 2017 at the United States Departments of State and Energy in Washington D.C. at the sidelines of the Offshore Technology Conference (OTC).

    The Minister of State while responding to the comments and feedback given by Mr. Rick Perry said the Federal Government of Nigeria under the leadership of President Buhari has clearly set out the choices that have to be made as nation over the next 4 years and have also taken significant steps in achieving this through the continuous implementation of the 7BigWins – the Nigerian Petroleum roadmap; which focuses on stabilizing the business environment, enshrining openness and transparency, and developing and entrenching new policies and regulations. These laudable achievements have contributed greatly in helping Nigeria claw back from the recession.

    Dr. Ibe Kachikwu restated the positive role the Government has played through the instituting of the Joint Venture cash call payment agreement, ensuring adherence to due process in the sector, promoting accountability, encouraging sanctity of contracts and reviewing the Fiscal Policy to provide incentives for investment in the sector while optimizing revenues for the Government. He also hinted that plans are in place to reduce Government’s role in the sector in order to increase private sector participation.

    Finally, Mr. Perry, in his closing remarks at the meeting informed the Honorable Minister of State, that the United States Government would be willing to assist Nigeria with access to newer technology and skill set training to deepen Nigerian participation and production in Oil and Gas. He further extended an invitation to the Honorable Minister of State, Petroleum Resources to come to the United States to take a look at the Department of Energy sector laboratories which specifically develop new technologies being currently deployed in Oil and Gas.