The Minister of State for Petroleum Resources, Senator Heineken Lokbobiri, says Nigeria remains the leading oil and gas producer in Africa, ahead of the likes of Angola and other oil producing countries on the continent.
Mr. Lokpobiri, while giving an update on the achievements of his ministry, noted that in the past year, President Tinubu has created an enabling environment to boost the confidence of investors in the oil sector.
He noted that so far, Nigeria has exceeded the OPEC benchmark, producing approximately 1.7 million barrels of crude oil per day.
He also mentioned that in the past year , 20 billion dollars have been put into investments in the oil sector and 10 billion dollars in deep offshore .
The Minister identified the issue of evacuation as one of the hindering factors in crude oil production , regretting the poor state of oil pipelines and the lack of investments in the sector in the past 12 years .
He stressed that the recent meeting with the leadership of Schlumberger will heed positive investments in the sector in due time .
Mr Lokpbiri also mentioned that one of the highest achievements of the ministry in the past year has been the stability of peace in the Niger Delta region.
