President Muhammadu Buhari has stated that the cost of oil production has become unnecessarily high in Nigeria.
The Senior Special Assistant to the President on Media and Publicity Mallam Garba Shehu, in a statement, quoted Buhari as saying this at the State House in Abuja on Wednesday while meeting with members of the Independent Petroleum Producers Association.
Buhari assured the oil producers that his administration would take appropriate actions to maintain and enhance security in their areas of operation, noting that better security would help to lower production costs, which, he said, had become unnecessarily high in the country.
Assuring indigenous companies operating in Nigeria's oil and gas sector of the full support and protection of his administration, Buhari commended their determination to increase the participation of Nigerians in the country's oil industry and promised to do all within his powers to address the challenges which they currently face.
The president also directed the management of the Nigerian National Petroleum Corporation (NNPC) to work more closely with the indigenous oil producers to resolve the problems which they enumerated to him.
“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 told members of the association which represents about 20 Nigerian companies operating mainly on onshore fields.
Mr Austin Avuru, who spoke on behalf of the Nigerian oil producers, was quoted as informing the president of challenges currently being faced by 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 statement also quoted Buhari as commending ongoing efforts by the Ministry of Culture, Tourism and National Orientation to generate more revenue through its various agencies.
Buhari assured the oil producers that his administration would take appropriate actions to maintain and enhance security in their areas of operation, noting that better security would help to lower production costs, which, he said, had become unnecessarily high in the country.
Assuring indigenous companies operating in Nigeria's oil and gas sector of the full support and protection of his administration, Buhari commended their determination to increase the participation of Nigerians in the country's oil industry and promised to do all within his powers to address the challenges which they currently face.
The president also directed the management of the Nigerian National Petroleum Corporation (NNPC) to work more closely with the indigenous oil producers to resolve the problems which they enumerated to him.
“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 told members of the association which represents about 20 Nigerian companies operating mainly on onshore fields.
Mr Austin Avuru, who spoke on behalf of the Nigerian oil producers, was quoted as informing the president of challenges currently being faced by 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 statement also quoted Buhari as commending ongoing efforts by the Ministry of Culture, Tourism and National Orientation to generate more revenue through its various agencies.
Source:Daily Trust
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