Financial Energy Review
The Ministry of Petroleum Resources has inaugurated a committee on the Establishment of an Oil and Gas Investment Promotion Office to spur investment in the sector.
Mr Kamoru Busari, Director overseeing the Office of the Permanent Secretary said that having an Investment Promotion office in the ministry was a strategic milestone to attract investors in Nigeria’s oil and gas sector.
This is contained in a statement issued on Thursday by Mrs Enefaa Bob-Manuel, the Director (Information) of the ministry on Thursday in Abuja.
According to him, the initiative will come in handy to investors given the country’s enormous oil and gas deposits.
The inauguration, according to the director followed the approval granted by the Minister of State for Petroleum Resources, Chief Timipre Sylva on June 22.
He said the office was expected to be well equipped to support investors and further create awareness to investors about Nigeria as an attractive destination for Oil and Gas Investment.
Busari said when established, it would act as a One-Stop Shop of Oil and Gas Investment.
In his acceptance speech, Mr Musa Talle, the committee’s chairman appreciated the management for the confidence reposed on them and promised to work assiduously to actualise the mandate and terms of reference given to them.
The Terms of Reference include; creating, examining and consolidating a framework for the ministry’s oil and gas investment promotion office.
It also includes taking into account any relevant submissions and contributions that will help to create the office, and to carry out any other pertinent action or directives that will aid in the execution of this task.
Members of the Committee are; Director Planning and Statistics in the ministry, Mr Musa Talle (Chairman); Assistant Director (Upstream), Usoroh Thomas and Technical Assistant to the Minister (Down Stream) Dr Ishaku Abner. Others are Technical Assistant-COS (HMSPR) Ogar Ugbiz, Assistant Chief Petroleum, Mr Tejumola Olasunkanmi, and Technical Assistant-COS (HMSPR), Bamidele Dada, who will serve as the secretary.
