The Minister of State for Petroleum Resources, Timipre Sylva, said President Muhammadu Buhari-led government has concluded plans to immortalise Oloibiri and industrialise Bayelsa State.
He revealed that the government intends to achieve this through the establishment of the Oil and Gas Museum and Research Centre in Oloibiri.
The centre is currently being developed jointly by Nigerian Content Development & Monitoring Board (NCDMB), the Petroleum Technology Development Fund, Shell Petroleum Development Company and the Bayelsa State Government.
Hon. Sylva spoke on Tuesday at the 10th edition of the Practical Nigerian Content (PNC) Workshop organised by the Nigerian Content Development & Monitoring Board (NCDMB) and DMG Events in partnership with the Bayelsa State Government.
He noted that hosting the event annually in Yenagoa honours Bayelsa State’s history as the cradle of oil and gas production in Nigeria.
The Minister said the Federal Government is committed to support and promote investments in gas, which he attributed as the basis for Nigeria’s Decade of Gas Initiative launched by President Muhammadu Buhari in March 2021.
According to him, “Other strategic actions by the federal government to industrialize Bayelsa State include the various oil and gas investments now crystalizing in various parts of the state like the Nigerian Oil and Gas Parks Scheme (NOGAPS), the Brass Petroleum Products Terminal Limited (BPPT), the Brass Fertilizer Project and Methanol Plant, Gas Processing Plant, Modular Refinery to mention but few.
“The great accomplishment of the Board as well as the activities of other key agencies under the Ministry of Petroleum Resources have positioned our Ministry as a top performer in the Presidential Scorecard, assessed by the Office of the Secretary to the Government of the Federation.
“There is no question that President Muhammadu Buhari has booked his place on the bright side of history, particularly of the Nigerian Oil and Gas Industry ensuring the passage of the Petroleum Industry Act into law after over 20 years of debates and disagreements of the shape of the law.
“Signing the Bill into law in August is a watershed event in the annals of Nigeria’s petroleum industry which has literally rolled away the cloud of uncertainty that has hindered investments into the industry for so long.
“Hence, we took quick and decisive steps by establishing the Board of the NNPC Limited, constituted the management teams for the Nigerian Upstream Petroleum Regulatory Commission and the Nigerian Midstream and Downstream Regulatory Authority.
“Government expects that with the PIA now in place and supported by the enabling structures to ease doing business, new Final Investment Decisions (FIDs) should begin to happen rapidly in the Nigerian oil and gas industry.
“With over $42billion (USD) worth of investment agreement signed by various Nigerian entities at the just concluded Intra African Trade Fair (IATF) in South African, there is strong optimism that so many new projects would soon commence in the Nigerian Oil and Gas Industry.
“Let me specially commend the NCDMB for catalyzing key investments in the gas sector across the country in furtherance of Federal Government’s strategic focus in gas development and utilization.
“We are convinced that these gas projects, including the ongoing AKK project would create huge opportunities for local companies in the gas value chain, as well as create thousands of jobs to reduce unemployment in Nigeria.
“As we go on with implementation of the Petroleum Industry Act, we would like to see closer collaborations among the various agencies of the Ministry of Petroleum Resources. All hands must be on deck to develop our hydrocarbon resources efficiently, enhance national revenue and optimise value adding activities in-country.”
Meanwhile, the PNC is a platform for stakeholders to meet annually to take stock of Nigerian Content performance, discuss challenges and chart fresh course of action for industry growth and sustainability
The theme of this year’s conference is, “Driving Nigerian Content in the Dawn of the Petroleum Industry Act.”