In a bid to substantially ensure a smooth transformation in the oil industry in 2017, Minister of State for Petroleum, Dr. Ibe Kachikwu, has said the oil and gas sector will be run at a rocket pace, Vanguard reports.
The minister in a post on his twitter handle, entitled the Nigeria Petroleum Sector 2017 Outlook, said: “First, we are going to firm up our policies, be able to gazette all our oil and gas policies and then pass the Petroleum Industrial Bill (PIB).” He also said; “We are going to accelerate Federal Government revenues, look into areas where we could have made more money (as the Federal Government has been losing low hanging fruits), so as to support the 2017 financing.”
“We are going to be singing to attract investments and complete all the memorandum of Understandings, both the one in China, and that of India.” He also hinted that there will be a road show in the UK, as well as the US. Kachikwu added; “ We still remain committed on our goal of 2018, reduce importation by 60% and 2019 try and exit the importation of petroleum products substantially. 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 a solution to this.”