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Oil Sector Attracts $16.6 Billion Investments Under Tinubu’s Administration – Minister” May 23, 2024

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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.

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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.

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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.

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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▶

Atiku made the disclosure during an interview on Arise Television on Wednesday, where he reflected on events following the PDP’s defeat in the 2023 presidential election.

According to him, he warned party leaders after the election that the PDP could struggle politically without forming alliances with other opposition forces.

“To be honest, I was one of the major initiators of this coalition. After the PDP lost the last election, I told the party clearly that I did not see a future for the PDP without a coalition,” he said.

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Atiku said his advice was rejected at the time, despite his conviction that Nigeria’s political history had shown the importance of alliances.

“They disagreed with me then. I have studied Nigeria’s political transition over the years and saw how previous alliances worked, so it was not difficult for me to foresee this,” he stated.

The former vice president added that his support for coalition politics was also influenced by his desire to encourage the emergence of younger leaders he believes are vital to Nigeria’s future.

“I saw some of these younger politicians as the future leaders of this country, and I felt it was my duty to point that out,” he said.

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However, Atiku claimed the resistance he encountered within the party was driven more by personal feelings than by disagreement over the substance of his proposal.

“They disagreed with me simply because they did not want to see my face, not because of what I was suggesting,” he said.

Atiku added that recent political developments have now vindicated his position on the need for a broad opposition alliance ahead of future elections.

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Atiku Opens Up On ADC 2027 Game Plan, Says Consensus Candidate Comes First.

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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.

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“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.

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“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.

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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▶

Atiku made the remarks during an interview on Arise Television’s Prime Time programme on Wednesday.

Speaking on what makes his latest presidential bid different from previous attempts, Atiku said the ADC coalition brings together key political figures from across major parties, including the APC, PDP and Labour Party.

He described the alliance as a broader and more strategic political arrangement ahead of the 2027 general elections.

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According to him, the coalition has created a stronger platform that improves his prospects.

“Now, we have a broader coalition — a combination of APC, PDP and LP — which gives me a better chance of becoming president in 2027,” he said.

Atiku also noted that the coalition reflects both experience and generational inclusion, which he said shows a clear succession plan.

“You see people of my generation, and you see younger people coming behind us, so you can clearly see a succession pattern,” he added.

Meanwhile, Atiku described former President Goodluck Jonathan as a decent but inexperienced leader.

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According to him, Jonathan’s lack of experience contributed to shortcomings in governance and played a role in his defeat in the 2015 presidential election.

“I know Goodluck Jonathan very well. He is a decent young man, but he was also inexperienced, and that contributed to his failure in managing the affairs of the country,” Atiku said.

He made the remarks while stressing the need for experienced and capable leadership in Nigeria.

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