Mohammed Shosanya
The Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, emphasized the Federal Government’s commitment to supporting local refineries.
He spoke on Thursday at the 3rd Edition of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit (PEALS 2024),
He emphasized the need for enhanced domestic refining capacity to reduce reliance on imports and stimulate economic growth.
He also discussed promoting healthy competition and addressing infrastructure decay through public-private partnerships.
He stressed the importance of combating crude oil theft and welcomed investments aligned with the Petroleum Industry Act.
“Energy security is at the core of national security. In an era where global energy dynamics are rapidly changing, Nigeria must strategically position itself to not only meet its domestic energy needs but also to remain a key player in the international arena.
“This requires a concerted effort from all stakeholders—government, industry, and labor—to develop policies and practices that safeguard our energy infrastructure and ensure uninterrupted supply” added Senator Lokpobiri.
Also speaking,Minister of Labour and Employment, Rt. Hon. Barr. Nkiruka Onyejeocha emphasized the need for a collective and collaborative approach to tackle the challenges facing the country’s petroleum industry.
She highlighted the need to identify the nexus between national security and the availability of natural resources for energy consumption, particularly in light of the country’s current challenges with petroleum products.
She also emphasized the importance of embracing the principle of social dialogue and continuous engagements between social partners to ensure a peaceful and harmonious industrial relations atmosphere, which will lead to improved productivity and overall development.
The summit’s theme, “Energy Mix, Security, Divestment and Crude Oil Theft,” aligns with the present administration’s Renewed Hope Agenda for a better Nigeria.
“As you are aware, our rich endowment of Petroleum Resources has long been the lifeblood of our national economy but sadly, today, we stand at the crossroads in dire need of its bye products such as premium motor spirit (PMS) popularly called petrol and other associated challenges, it is therefore imperative that we come together to chart a new course if our country must overcome these challenges by identifying the nexus between national security and availability of natural resources for energy consumption for our people.
“Fellow Comrades, in the spirit of unity and progress that define our great nation, let us use this Summit as a platform to exchange ideas, share knowledge, and forge partnerships that will accelerate all-round development of our energy sector.
“We must seize the opportunity to deliberate and proffer innovative strategies, especially the application of Artificial intelligence (AI) for our Oil Industry in line with global best practices for generations to come, and more importantly, how to harness the opportunities that abound in the nation’s hydrocarbon future for indigenous Oil Companies in view of the recent policy changes and numerous upstream divestments by some International Oil Companies (IOCs) in this country” she added.
