in the last year.
Lokpobiri said that there have been significant improvements in the oil sector in the last year. According to him, “Our oil production has improved significantly from below 1.5 million barrels per day to 1.7 million barrels per day, which is above our OPEC quota of 1.5 million barrels per day. Our target is to hit two to three million barrels per day by the end of the year.”
He said the reason why the Nigerian oil sector has suffered over the years is because of the unfriendly environment and for over 12 years there has been no serious investment in the sector. “The business-friendly efforts of this administration have rekindled investors’ confidence in our oil and gas sector and ensured the return of companies such as industry service providers who had earlier seized or greatly reduced operations on our shores due to the unfavorable business climate. For example, last night I met one-on-one with SLB’s global CEO, who further solidified their commitment to Nigeria.”Before flagging, please keep in mind that Disqus does not moderate communities.
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