The Independent Petroleum Producers Group (IPPG) has commende the Federal Government over the passage of the Petroleum Industry Bill (PIB) into Petroman Industry Act and has also appealed to the government to provide adequate security for all oil and gas facilities in the country.
A delegation of the IPPG led by its Chairman, Abdulrazaq Isa, met with Vice President, Prof. Yemi Osibanjo the and commended the government for the enactment of the PIA.
They expressed the hope that uncertainty over under-investment in the industry over the last few years will now come to an end. IPPG also pointed Expressed satisfaction over the Vice President’s peace efforts in the Niger Delta in 2016.
The IPPG Chairman said that Prof. Osinbajo has been a great supporter of the Group. “Your intervention helped in resolving the security situation that we faced in the Niger Delta region in 2016.” IPPG Chairman said.
How he pointed out that incidence of crude theft are unprecedented and becoming unsustainable particularly on the eastern axis.
While soliciting the support of the Federal Government in securing investments in the sector, Isa disclosed the importance of gas in the emerging global energy landscape saying ‘’gas should be considered as a transition fuel with deliberate policies formulated to attract investment into the sector’’.
The Chairman reiterated the Group’s commitment to partner with the Federal Government by saying ‘’IPPG remains committed to working collaboratively with Government in realising its aspiration for the sector,’’ Isa said.
In his response, the Vice President assured the group of the Buhari administration’s commitment to the security of lives and property, noting that government is open to suggestions that would lead to permanent resolution of the issue.
He commended the Group and assured them of government’s readiness to support their growth and development as critical stakeholders in the industry. Osinbajo also called for collaboration between the Federal Government and other stakeholders in the oil and gas sector in advocating for a just and balanced energy transition agenda.
The Group delegates to the Vice President led by Abdulrazaq Isa, include the immediate past Chairman of the Group, Ademola Adeyemi-Bero, Chief Executive Officer, FIRST Exploration and Petroleum Development Company Limited; Charles Odita, Director, Midwestern Oil and Gas Nigeria Limited; Roger Brown, Chief Executive Officer, Seplat Energy PLC and Oyeleke Banmeke, Executive Coordinator, IPPG Secretariat.
IPPG is an association of Nigerian indigenous upstream Exploration and Production companies that constructively engages government and other industry stakeholders on issues affecting the industry with a view to realising a sustainable petroleum industry and maximise its contribution to the socio-economic development of Nigeria.