The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has disclosed how the Federal Government attracted foreign investors to boost oil production to 1.8 million barrels per day.
From one million barrels per day in 2023, Lokpobiri stated that oil production has now risen to 1.8mbpd, including condensates.
In a statement on Monday, the oil minister disclosed that the presidential directive to ramp up oil production to a sustainable level kickstarted the journey of transformation in the oil sector.
“This visionary directive by President Bola Tinubu, as broad as it was, became the cornerstone of my commitment and that of my team,” he noted.
The former senator explained that he and his team members embraced the directive wholeheartedly by engaging stakeholders at home and abroad.
“We embraced it wholeheartedly, engaging stakeholders both domestically and internationally to build synergy and foster partnerships.
“From the production level of 1mbpd when we began, we have boosted output to 1.8mbpd, inclusive of condensates, and continue to aspire for even greater heights,“ he noted.
He listed the Africa Energy Bank as one of the achievements of this administration.
