NIPS is Government’s official industry trade show, says Ibe Kachikwu
The Honorable Minster of State for Petroleum Resources, Dr. Emmanuel Ibe Kachukwu has described the ongoing Nigerian International Petroleum Summit, NIPS, as “the Government’s Official industry trade show event.”
The event is holding at the International Conference Centre, Abuja.
In a statement released by Dr. Ibe Kachuckwu on the subject, he added that the event which opened in Abuja, Monday, 28th January, and will last 30th January, 2019, is being organized in the true spirit of a public private partnership.
With the theme: Shaping the future through efficiency and innovation, “The event will create an excellent business environment to interact, cross-pollinate ideas and make deals happen.” Ibe Kachikwu urged participants at the Summit to “Think Africa, Think Nigeria, Think Collaboration.”
While flashing back to the early life of his stewardship at the Ministry of Petroleum Resources, when he had to launch the “7 Big Wins Programme” to grow the Nigerians oil and gas industry, Dr. Ibe Kachukwu revealed that the aim was to develop a stable and enabling oil and gas landscape with improved transparency, efficiency, stable investment climate and well-protected environment.
Dr. Ibe Kachukwu also stated that the reform being undertaken in Nigeria’s oil and gas sector presents a new dawn for Nigeria and provide a huge investment opportunity in infrastructure development, oil and gas facilities, operation and maintenance across the oil and gas value chain.
The Honourable Minister said that “the Nigerian International Petroleum Summit is expected to create the perfect platform for the world to meet Nigeria oil and gas industry players.”
The Summit is expected to facilitate a meeting between key Nigerian political decision makers, government officials as well as directors and specialists from Ministry of Petroleum Resources, NNPC, and other relevant government bodies, with their counterparts in other national and international, multinational organizations, the academic as well as other stakeholders.
“The summit will exhibit the economic operators, potential investors and others as the present new technologies and know-how in the petroleum sector.”, he said.
Nigeria’s petroleum industry is the largest in Africa with improving oil and gas reserve of 37 billion barrels (bbl) and 192 trillion cubic feet respectively.
The sector contributes about 10% of the country’s gross domestic product and accounts for 95% of all exports.
However, given that Nigeria’s gas reserves remained largely untapped, the country is expected to make a shift towards becoming a major producer and exporter of gas.
