Nigeria: Govt Committed to Implementation of Oil Industry Road Map - Sylva

24 September 2019

The Minister of State, Petroleum Resources, Chief Timipre Sylva, has reiterated the federal government's commitment towards the implementation of the oil industry road map.

According to the head, Public Affairs, Department of Department of Petroleum Resources, Mr Paul Osu, 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 minister, amongst other deliverables, promised to continue with the implementation of the government -approved oil industry roadmap.

"This would address reduction of cost of production of crude oil per barrel, elimination of security challenges and vandalisation of production infrastructure. Also increase in liquefied petroleum gas (LPG) penetration nationwide and improving the integrity of measuring equipment at terminals.

"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," he said.

The minister on his tour of the department, commended the acting director for excellent facilities and infrastructure which has 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 into and outside the country in real-time.

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