THE Minister of State for Petroleum Resources, Chief Timipre Sylva, has reiterated Federal Government’s commitment towards implementation of the oil and gas ‘7 Big Wins’.
This was contained in statement issued by Mr Paul Osu, Head, Public Affairs Department of Department of Petroleum Resources.
Osu said in the statement that Sylva emphasized government’s commitment towards revamping the sector during his visit to the agency in Lagos as part of his familiarisation tour to parastatals under his ministry.
In 2016 President Muhammadu Buhari unveiled the oil and gas industry road map tagged ‘7 Big Wins’ which has the potential to address the challenges retarding growth of the sector.
The statement said that the Minister, among other deliverables, promised to continue with the implementation of the government’s approved oil industry roadmap otherwise referred to as the ‘7Big Wins’.
“This will reduce cost of production of crude oil per barrel, eliminate security challenges and vandalism of production infrastructure, increase Liquefied Petroleum Gas (LPG) penetration nationwide and improve the integrity of measuring equipment at terminals,” it said.
“We are unrelenting in our commitment to reform, retool and refocus policy-making, regulatory and revenue-yielding parastatals and agencies under the Ministry of Petroleum Resources to operate optimally for the benefit of the national economy which has been experiencing some distress since the drastic fall in oil prices,” Sylva said.
The visit, which was his first to any parastatal since his assumption of office, provided a platform for the honourable minister of state to outline his vision for the petroleum industry.
He commended the acting director of DPR, Ahmad Shakur, for excellent facilities and infrastructure which have been put in place to domicile components of the industry operations like the National Data Repository (NDR) which is the data hub for the entire oil and gas industry in Nigeria and the National Production Monitoring System (NPMS) which has recently been upgraded to monitor crude oil, LNG and petroleum products vessels in and outside the country real-time.
In his remarks, the acting director, DPR, Mr Ahmad Shakur, who received the minister assured him of DPR’s commitment to the realisation and implementation of his vision for the industry.
Shakur further assured the minister that DPR was already developing a robust policy framework to align with his vision.
The highpoint of the visit was the presentation of NPMS monitoring tool to the honourable minister to enable him monitor real-time crude oil exports and petroleum products importation.
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