Kachikwu, Baru meet at Nigerian Economic Summit, discuss opportunities in oil sector

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The Minister of State for Petroleum Resources, Mr. Ibe Kachikwu and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Maikanti Baru, Tuesday, put aside their differences and discussed opportunities in the Nigerian petroleum industry and ways to grow the sector, Vanguard reports.

The duo met at the ongoing Nigerian Economic Summit in Abuja, at the Energy Policy Committee breakout session. Baru, a lead discussant at one of the sessions, came‎ first to the venue of the programme, while Kachikwu walked in about 15 minutes later. As soon as the Minister of State entered, Baru stood, approached him and exchanged pleasantries. After the session, both men held a brief chat before departing.

Speaking on oil sector opportunities, Kachikwu agreed that the operating environment is tough, but stated that the government was looking at areas where it can provide incentives to boost returns for investors, so as to attract more investors into the industry. Baru, on the other hand, highlighted the opportunities in the forthcoming marginal oil fields bid round, stating that the successful completion of the process would present a veritable opportunity for Nigeria to grow its crude oil output and create employment.