OPEC, Investors to Attend Nigeria Petroleum Summit

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu says Members of the Organization of Petroleum Exporting Countries (OPEC), and many stakeholders in the oil sector will participate in the first Nigeria International Petroleum Summit (NIPS). Kachikwu disclosed this while briefing newsmen in Abuja.
“This summit is the first in Nigeria and it will be like the Offshore Technology Conference hosted every year in Huston, U.S. where all stakeholders gather to discuss issues concerning the sector.
“We are going to host a good number of these people and we are sure many investors will be attracted to Nigeria.
“The summit will showcase many Nigerian talents that are hidden, and most multinationals will be allowed to showcase their talents,’’ he said.
He added that the summit which would be declared open by President Muhammadu Buhari, on Sunday Feb. 18 would end on Feb. 22 and would take place at the International Conference Centre (ICC), Abuja.
He said that the event was organized to create a platform where the world can meet and interact with Nigeria’s Oil and Gas industry players and also to provide exhibitors with an avenue to present new technologies and meet potential investors.
Kachikwu said the event would be for Nigerian key political decision makers, directors, relevant governmental bodies, officials, specialists from the Ministry, NNPC and other stakeholders.
He said: “It will feature lots of conferences, seminars and exhibitions.
On the petrol queues necessitated by fuel scarcity, the minister directed the Nigerian National Petroleum Corporation (NNPC) to ensure that queues disappeared before the start of the summit.
He said that the NNPC had been working round the clock to ensure normalcy returned in the supply chain to end the lingering fuel scarcity.
“I am giving them the directives; NNPC should do whatever it takes to clear the queues.
“Right now, Lagos is free and some state capitals are free too.
“Behind the scene, the major problem is policy and logistics issues especially with prices.
“We will continue to work hard to ensure we retain the pump price at N145,” he said.