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Oil Sector Attracts $16.6 Billion Investments Under Tinubu’s Administration – Minister” May 23, 2024
Oil Sector Attracts $16.6 Billion Investments Under Tinubu’s Administration – Minister” May 23, 2024....KINDLY READ THE FULL STORY HERE▶
Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil), revealed on Monday that Nigeria’s oil and gas sector had attracted approximately $16.6 billion in investments over the past year since President Bola Tinubu assumed office on May 29, 2023……..CONTINUE READING
Speaking in Abuja while providing updates on achievements in the oil sector under Tinubu’s administration, Lokpobiri highlighted the efforts made to create an environment conducive to investment. He noted that previous challenges such as the non-passage of the Petroleum Industry Act and inconsistent policies had deterred investments, but recent initiatives had revitalized investor confidence.
Lokpobiri cited examples of significant investments, including $5 billion and $10 billion in deepwater offshore assets, as well as a $1.6 billion commitment in oil and gas asset acquisition. He attributed the increased interest in Nigeria’s oil sector to successful roadshow activities in the United States and Europe.
The minister also reported a notable increase in crude oil production since Tinubu’s administration took office. Production had risen from approximately 1.1 million barrels per day to 1.7 million barrels per day, inclusive of condensate. Lokpobiri credited this achievement to streamlined operations and conflict resolution efforts among stakeholders.
To further boost crude oil production, Lokpobiri outlined various steps taken, including revamping redundant oil assets, resolving industry disputes, and enhancing security measures to combat oil theft. He highlighted the successful commencement of production in OMLs 13 and 85, with expected daily outputs of 20,000 and 40,000 barrels respectively.
Lokpobiri concluded by reaffirming the administration’s commitment to optimizing production from Nigeria’s oil and gas assets. This announcement came as part of Tinubu’s directive for ministers to present their performance reports to the public in commemoration of his first anniversary in office.
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“They Didn’t Even Want To See Me” — Atiku Opens Up On PDP Coalition Snub.
Former Vice President Atiku Abubakar has revealed that his push for an opposition coalition was initially rejected by members of the Peoples Democratic Party (PDP).....KINDLY READ THE FULL STORY HERE▶
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Atiku Opens Up On ADC 2027 Game Plan, Says Consensus Candidate Comes First.
Former Vice President Atiku Abubakar has said the African Democratic Congress (ADC) will first pursue a consensus arrangement before considering a primary election for its 2027 presidential ticket.....KINDLY READ THE FULL STORY HERE▶
Atiku made this known during an interview on Arise Television on Wednesday while discussing the party’s leadership and strategy ahead of the next general election.
He said he is open to backing a consensus candidate if that becomes the party’s collective decision, stressing that such support should not be interpreted as stepping aside.
“It is not about stepping aside, but whether I am willing to support, and yes, I will,” Atiku said.
According to him, the ADC’s first priority is to build internal unity and reach an agreement among stakeholders before considering a competitive primary process.
“Our first option will be to work out a consensus. If that doesn’t happen, then of course we will explore other options. And yes, I will support whoever eventually emerges,” he stated.
Atiku also expressed confidence in the political experience within the party, saying he believes a consensus is achievable and may make a full-scale primary contest unnecessary.
“That remains our preferred path. We will go for primaries if consensus fails, but I honestly do not expect it to get to that stage because we are dealing with mature and experienced politicians,” he added.
His comments come amid growing political consultations and coalition talks as parties begin to position themselves ahead of the 2027 general elections.
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2027: I Stand A Better Chance To Win Presidency Than Anyone Else – Atiku.
Former Vice President Atiku Abubakar has said the opposition coalition under the African Democratic Congress (ADC) has significantly strengthened his chances of winning the 2027 presidential election.....KINDLY READ THE FULL STORY HERE▶
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