Buhari Promises To Reform Oil And Gas Sector | Independent Newspapers Limited
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Buhari Promises To Reform Oil And Gas Sector

Posted: Jun 30, 2015 at 5:49 pm   /   by   /   comments (0)

By Chesa Chesa, Abuja

Nigeria’s President, Muhammadu Buhari, has pledged that his administration will undertake appropriate reforms and implement fresh policies to boost national income from oil and gas production.

The President said that his government will also give priority attention to the security of oil and gas installations as well as maritime security in its bid to boost national earnings from the sector.
Buhari who spoke at separate meetings with officials of Exxon-Mobil and the Nigeria Liquefied Natural Gas Company (NLNG), who visited on different occasions on Monday said the removal of bureaucratic bottlenecks created by multiple government agencies that currently impede the operations of companies in the oil and gas sector would be priority in the reforms to be undertaken of the sector.

Giving further insight, the President said, “The vandalism of oil installations and pipelines, piracy, oil theft and the fall in the international price of oil have made our economic situation very disturbing.

“This government will do all within its powers to secure the environment and encourage more investments in the oil sector,’’ President Buhari said, adding that his administration would ensure that Nigeria’s oil and gas industry quickly becomes more globally competitive.

He assured the NLNG delegation of his administration’s full support for plans to expand the total production capacity of the company, the President regretted that political squabbles and interference in the past had prevented it from attaining its full potentials.