PTDF Summit: Active Oil Rigs Rose from 14 to 60 Under Tinubu, Says Lokpobiri
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The Minister of State for Petroleum Resources, Heineken Lokpobiri, revealed at the inaugural PTDF Journal Summit in Abuja that the number of active oil drilling rigs in Nigeria has surged from 14 to over 60 under the current administration of President Bola Tinubu. This increase has led to an output of more than 1.7 million barrels per day.
Lokpobiri attributed this progress to ongoing reforms in the petroleum sector, which are restoring investor confidence, enhancing regulatory certainty, and creating a favorable environment for private sector investments. The summit, themed "Private Sector Participation in Nigeria’s Midstream and Downstream Petroleum Sector: Prospects, Challenges and the Way Forward," gathered government officials, industry operators, academics, and other stakeholders.
Lokpobiri emphasized the need for adequate infrastructure, efficient transportation and storage systems, expanded refining capacity, and a competitive market to maximize the benefits of the rising crude oil production and drilling activity.
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