Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, made the disclosure while unveiling his goals and those of the Ministry of Petroleum Resources for 2017 in Abuja.
According to him, “We are going to be seeking to attract investments and complete all the MoUs we have in China and India. We are looking to do a roadshow to the UK, we are looking to do a roadshow to the US with President Donald Trump coming in,’’ he said.
The Minister said Nigeria would exploit the relationship built by President Muhammadu Buhari in taking a roadshow to the UK and the US.
“We are going to accelerate Federal Government’s revenues, look into areas where we could have made more money, so as to support the 2017 budget financing.
“We are looking to draw on the relationship that the President has built over time. We are going to be conducting oil blocks allocations and marginal flow awards to try and raise money for the government,” Kachikwu said.
He assured that Nigeria’s refineries would be revamped to produce at 60 per cent capacity.
“We need to start the revamping of the refineries. The president has given us marching orders on that. We still remain committed on our goal of 2018 to reduce importation by 60 per cent and 2019, stop the importation of petroleum products substantially.
“Now, we are going to continue to focus on downstream issues. Although we have liberalised, there are still some challenges.
“We are going to see how we work within the liberalisation infrastructure such that we are able to take away the low-hanging difficulties.
“We are also going to focus on the Niger Delta. It’s been too long a lingering issue. We are going to be working with every aspect of the Presidency to try and find solution to this.
“On the other hand, we are going to run at a rocket pace. We have so much to do. First, we are going to firm up our policies, be able to gazette all our oil and gas policies and then pass the PIB,” he stated.
Kachikwu praised Nigeria’s “influential role” in stabilising oil prices, saying he expects oil to trade in the $60s for the better part of 2017. Click to signup for FREE news updates, latest information and hottest gists everyday
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This headline is very misleading and outright falsehood. Ibe Kachikwu hopes to attract the US and bring Trump to the show. Trump has not said he would come. Please do honest journalism!
ReplyDeletepoor repoorting.... why cant you include date and time of this roadshow. or tell us at the time of reporting this you were not informed of the time of this invent....please NE step up your game.
ReplyDeleteDon't mind NE, this is intentional.... They report blindly and lie...
DeleteWhat NE knows how to do best is to be removing resourceful Comments and contributions that are useful. I know, dey will still not publish this piece of mine....
Instead, NE is daft enough to be publishing ISIAKA" senseless Comments everyday ! Mtchwwwww.
Please, enough of 'we are going to'. We want to start hearing we have done this and we have done that. This is 2017. 2 years down the line, all we hear is we are going to. To do what! to run mad? Yoruba says if it takes a mad man 10 years to lay the ground for his madness, when exactly is he going to run inside the market. E joor o.
ReplyDeleteJunk reporting as usual
ReplyDelete