Government targets 70% petroleum products export

Emmanuel Ibe Kachikwu

Emmanuel Ibe Kachikwu

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has restated government’s commitment to increase petroleum products exports by 70 per cent as a measure to earn more foreign exchange.

Kachikwu, who made this commitment during his maiden visit to the Department of Petroleum Resources (DPR), said government is preparing a robust policy document that is focused on repositioning the sector to achieve higher goals.

He therefore, emphasised the need for DPR, as the foremost regulatory institution, to position itself in assisting the government in achieving its targets for the oil and gas sector.

Kachikwu also challenged the workers to improve their skills to enable them rise up to the challenges that lie ahead, in view of the changing dynamics in the oil and gas sector and the economy at large.

He promised to assist its management to put in place a sustainable pension scheme and other benefits as a means of incentivising workers for optimal performance.

He advised the senior members of staff to mentor their subordinates and also recommend appropriate training programmes to help breach any identified gaps.

He further advised that older officers should consciously prepare for effective transition by grooming their successors, while still in service for the system not to suffer shortage of knowledgeable personnel whenever they retire.

The Minister, who commended the DPR management on the ongoing infrastructure transformation of the headquarters building into an edifice befitting of its status as a key regulator, recalled the sterling role played by DPR in mitigating the adverse effects of the fuel scarcity on the population.

He enthused that it was largely owing to this critical effort that we are experiencing stability in the downstream sector.

The Director of DPR, Mordecai Danteni Baba Ladan, recalled that the minister’s visit to DPR should have been in August, but was shelved due to exigencies of duty, expressing gratitude that the visit eventually held, since the Department and staff were eager to showcase their value to the industry.

He also affirmed that the Minister was quite well informed on the role the DPR plays in the oil and gas industry as its foremost regulator.

Receive News Alerts on Whatsapp: +2348136370421

1 Comment
  • solomon olushola

    Keep fooling yourselves. How can you import 70% petroleum products, when you dont have refineries?. This man is speaking from both sides of his mouth, you are discouraging establishment of private modular refineries by refusing to guarantee feedstock to investors. Just recently you issued a policy statement that, whoever is trying to establish modular refineries will have to source for their crude, when already the machines had been configured to Nigeria crude.Can you please explain, if there is any sense in this.