President Muhammadu Buhari has asked the Nigerian National Petroleum Corporation (NNPC) to work more closely with indigenous companies operating in Nigeria’s oil and gas sector, promising that his administration will give them full support and protection.
At a meeting with members of the Independent Petroleum Producers Association in the Presidential Villa on Wednesday, President Buhari commended their determination to increase the participation of Nigerians in the country’s oil industry.
He promised to do all within his powers to address the challenges they currently face.
“All Possible Encouragement”
The President particularly assured the Nigerian oil producers that the present administration would take appropriate actions to maintain and enhance security in their areas of operation, emphasising that better security would help to lower production costs, which, he said, had become unnecessarily high.
“We have the manpower for a more effective participation in our oil industry. We will give you all possible encouragement. You certainly won’t be ignored under my leadership,” President Buhari said.
The President also directed the management of the NNPC to work more closely with the indigenous oil producers to resolve the problems which they enumerated to him.
The Chief Executive Officer of the Seplat Petroleum, Mr Austin Avuru, who spoke on behalf of the Nigerian oil producers, told the president of challenges currently facing the group such as security and the funding of joint ventures with the NNPC.
He told the President that the indigenous oil producers were already making significant contributions to the development of the Nigerian economy and could do more with the support of the present administration.
The meeting was a continuation of briefings by Ministries, Parastatals and Agencies, to keep President Buhari up to speed with their affairs.
Wednesday’s meeting was, however, not just between President Buhari and officials of the government, but with the Independent Petroleum Producers group, which represents over 20 indigenous companies that produce the over 200,000 barrels of oil and over 900 million cups of gas per day in Nigeria.
They said they enjoy the administration’s policy directive and would not want to be left out.
While the meeting and the expected collaboration between the NNPC and the indigenous companies are expected to yield needed results, Nigerians will be more expectant of a reduction in the importation of refined product.
As such, one of the policy directions the administration may pursue vigorously is to make refineries in Nigeria work so that Nigeria will stop importation of the product it has the capacity to refine at home.