Petroleum Producers Want Security for Oil and Gas Assets

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The Independent Petroleum Producers Group (IPPG) has congratulated the federal government over the passage of the Petroleum Industry Bill (PIB) into law last month. The group also solicited federal government’s support in protecting oil and gas facilities from attack especially in the South-east.

In a delegation to Vice President(VP) Yemi Osinbajo led by its Chairman, Abdulrazaq Isa, the group congratulated the FG for the enactment of the PIA with the hope that uncertainty issues and under-investment in the industry over the last few years will come to an end. IPPG also commended the Vice President’s peace efforts in the Niger Delta in 2016. The IPPG Chairman said that Osinbajo has been a great supporter of the group, adding that “your intervention helped in resolving the security situation that we faced in the Niger Delta region in 2016.” Isa noted the 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’’.

Isa 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.’’

In his response, the VP 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 delegation to the Vice President led by Abdulrazaq Isa, consisted of 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.

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