Senator Heineken Lokpobiri, the Minister of State for Petroleum Resources, has assured the Federal Government’s collaboration with the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, to provide assistance to local refineries.
This commitment was made by Lokpobiri during the 2024 PENGASSAN Energy and Labour Summit held in Abuja on Wednesday.
The summit, which spans three days, marks the third edition of the annual event organized by the association with the theme “The Future of Nigeria’s Oil and Gas Industry: Energy Mix, Energy Security, Artificial Intelligence, Divestment, and Crude Oil Theft.”
The Minister emphasized that this collaboration would lead to increased oil production, foster healthy competition, and ensure fairness for all participants in the oil and gas sector.
He highlighted, “Supporting local refineries will boost domestic refining capacity, reduce reliance on imported refined products, and spur economic development.”
Furthermore, Lokpobiri stated, “The Federal Government remains committed to facilitating an enabling environment for potential investors to ensure the success of local refineries.”
He emphasized the significance of operational refineries within the country for economic growth and energy security.
According to NAN, the Minister praised the strategic and timely nature of the summit’s theme and urged collective efforts to attract more investments in the industry and ensure energy security.