Minister Of State For Petroleum Resources Advocates Increased Investment from IOCs For Nigeria’s Economic Growth (Full Details)

Senator Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil), has emphasized the importance of attracting more investment from International Oil Companies (IOCs) to Nigeria for its economic growth. He made this statement during a courtesy visit by the Global CEO of Schlumberger, Mr. Olivier Le Peuch, and his team, to his office on Thursday….CONTINUE READING

In a statement issued on Friday by Nneamaka Okafor, the SA Media and Communication to the Minister, Lokpobiri highlighted, “The return of Schlumberger with a promise of increased investment is a testament to the positive changes and opportunities in Nigeria’s oil and gas sector under President Bola Ahmed Tinubu’s administration. We are strategically positioned for greater partnerships that guarantee mutual benefit.”

The Minister commended Schlumberger for its longstanding contributions to Nigeria’s energy sector and reiterated the Federal Government’s support for the company’s operations. He stressed the significance of more investment in Nigeria’s oil sector for economic growth, stating, “More investment is essential for our economic growth.”

Lokpobiri assured Schlumberger of the Federal Government’s full support to facilitate their operations, emphasizing the collaborative relationship between Nigeria and one of its most influential oil and gas partners.

In response, Le Peuch expressed Schlumberger’s excitement to reinvest in Nigeria, recognizing the country’s potential and committing to contributing to its energy landscape as in the past. He announced plans to fully resume operations in Nigeria and expand business activities in the country.

The visit aimed to strengthen the longstanding relationship between Nigeria and Schlumberger, shaping the nation’s oil and gas sector for future growth and development.

Published By: Destiny.Jnr