President Muhammadu Buhari has declared that Nigeria will strengthen its position as regional leader in the oil and gas industry.
”Our renewed drive for economic diversification using the oil and gas industry as a pivot remains on track as we expand government revenues and deploy it to grow our Gross Domestic Product , generate employment and contribute to eliminating poverty in Nigeria. ”The establishment of the National Oil and Gas Excellence Centre aligns with our administration’s commitment to foster stability, growth and sustainability of the Nigeria Oil and Gas Industry consistent with the economic development and sustainability agenda articulated in the National Petroleum Policy 2017, National Gas Policy 2017, Economic Recovery and Growth Plan and the Economic Sustainability Plan, 2020,” he said.
He said Nigeria was not spared from the impact of the COVID-19, oil price crash and OPEC production cuts with direct impact on government revenue projections and national economy.