The Federal Government of Nigeria reported that the incoming administration in the country will have no difficulty administering the energy sector and positively guiding its future, based on the achievements of the current administration.
President Muhammadu Buhari said this at the Presidential Villa, while declaring open the Nigeria International Energy Summit (NIES) 2023, in Abuja on Monday April 17.
The President, highlighted the achievements of his administration in the energy sector, noting that he had documented them properly for the future.
Buhari said this year’s edition of the summit was not only about the achievements of his administration in the oil and gas but also about the incoming administration and to ensure that it made impact as quickly as possible.
“Our perspectives has provided the incoming government the tools to guide Nigerians energy future. I enjoin industry stakeholders to give the incoming administration the support and cooperation I received from you,” he said.
The President, who was represented by Mr Boss Mustapha, Secretary to the Government of the Federation (SGF).said he accomplished so much in the oil and gas sector stating that it enhanced private establishment.
According to Buhari, energy is and will remain the first concern of this administration till his last day in office.
This, he said was the reason his administration paid close attention to all the reforms that took place in the sector which he noted was for the overall benefit of the economy.
“The first task we combatted is the issue of funding and sanitising the oil and gas sector; we then proceeded to exit the federal government from joint registrar cash go-funding.
“This freed the federal government from the shoes of funding the oil sector.
“The Petroleum Industry Act (PIA) remains our second biggest achievement in energy sector. For decades we are told that because of various vested interest it would be nearly impossible to pass the bill but we made it happen.
“The Nigeria Upstream Petroleum Regulatory Commission, the Nigeria Midstream and Downstream Petroleum Regulatory Commission and the Nigerian National Petroleum Corporation (NNPC) were immediately transformed to Limited Liability Company .
“With a new brand and identity, it is becoming the most capitalised and the most profit producing company in Africa,” says Buhari .
