Nigeria Committed to Increasing Oil Production – Minister Lokpobiri tells UAE

Nigeria govt. committed to increasing oil production - Minister tells UAE

Nigeria Committed to Increasing Oil Production – Minister Lokpobiri tells UAE

The Minister of State for Petroleum Resources, Oil, Senator Heineken Lokpobiri, has restated the federal government commitment to increase oil production in the country.

The Minister made the revelation recently during a courtesy visit by UAE Ambassador to Nigeria, H.E. Salem Saeed Al Shamsi, along with his delegation, to his office.

In a statement, issued by the SA Media and Communication to the Minister, Nneamaka Okafor, the Minister was quoted as saying the visit from Ambassador Al Shamsi and his team is a testament to the valued relationship between the two nations.

He further stated that It underscores government’s commitment to transforming the energy sectors for mutual benefit.

The statement said “During the meeting, the Minister commended the recent bilateral agreement to restore visa issuance for Nigerians, which had been on hold for some time.

He attributed the achievement to the dedication of President Bola Ahmed Tinubu, whose efforts were pivotal in reinstating this important service.

The Minister acknowledged that the restoration of visa services is particularly significant given the high volume of travel between Nigeria and the UAE.

“The restoration of visa services is a critical development that will enhance the mobility of our citizens,” the Minister said.

“President Tinubu’s dedication has made this possible, and it will significantly benefit the many Nigerians who frequently travel to the UAE.”

In his discussions with Ambassador Al Shamsi, the Minister emphasized Nigeria’s commitment to increasing oil production. He stated that while Nigeria is not in a rush to transition away from oil, the country is actively seeking to enhance its production capabilities.

“We are focused on ramping up our oil production,” he explained.

“At the same time, we are inviting UAE investors to look at Nigeria as a prime destination. Our business environment is friendly, and our crude deposits are vast.”

The Minister highlighted the benefits of the Petroleum Industry Act (PIA), which provides a robust legal framework that guarantees returns on investments and has significantly reshaped the oil and gas sector. “The PIA ensures a secure and profitable investment climate, making Nigeria an attractive location for investors,” he noted.

Ambassador Al Shamsi responded positively, stating, “We see great potential in Nigeria’s energy sector and appreciate the steps being taken to create a conducive investment environment. Our countries have much to gain from continued collaboration.”

The Minister assured the UAE delegation of Nigeria’s commitment to maintaining a conducive environment for all investors. He reiterated that Nigeria is dedicated to creating and sustaining conditions that are favorable for investment, thereby reinforcing the country’s position as a key player in the global energy market.

This visit and the discussions held are expected to further strengthen the ties between Nigeria and the UAE, fostering greater cooperation and mutual benefits in the energy sector.

The Minister expressed his pleasure at the visit, viewing it as a significant demonstration of the strong and enduring diplomatic relationship between Nigeria and the UAE.

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