Quickest road to economic recovery is to increase oil productions – Lokpobiri

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By Onu Okorie

The Minister of Petroleum Resources Oil, Senator Heineken Lokpobiri has said that increasing oil production is the quickest way to solve economic stress in the country.

He stated this yesterday in Abuja while playing host to the Chief of Defence Staff, General Christopher Musa.

According to him, “the quickest way to ensure economic recovery is to ramp up oil productions, it will create employment and also ensure that revenue generation is increased. Also as the oil production increases it will help to increase foreign reserves of the country.”

He also said that security empowers investors with confidence and that is why it is important for the collaboration of the military and the Ministry.

He said that everywhere in the world, security situation determines the investors’ confidence, both in America, China, UK and other important places where oil is the mainstay of the economy, security in very key to attract investors and investment.

He applauded the appointment of the CDS describing it as a round peg in a round hole. According to him, the CDS is well known in Bayelsa and other Niger Delta Areas as operations had taken him to major parts of the area in the past.

“Musa will ensure a reduction in oil bunkering, illegal refining and vandalism in the oil production areas. And of course that will increase oil production by the federal government to feed the nation’s refineries both the major refineries and the modular refineries and also increase oil export capacity.”

“As the Ministry with the mandate to supervise the oil industry, it behoves on us to support efforts to address the problems in the sector.” He stated.

Chief of Defence Staff, Christopher Musa is meeting relevant stakeholders to synergise for effective security operations. He said that President Bola Ahmed Tinubu has given a directive to ensure that oil production in the oil production areas in the country, particularly where there is oil field is secured.

He pledged to support the Minister given the efforts going on now to ramp up productions. According to him, “since you came in as the Minister of Petroleum Resources, oil, there has been positive response from the creeks as illegal production, vandalism and oil bunkering has reduced.

“We need to benefit from God’s given resources we have here, so there is need for collaboration to ensure that criminal elements among us does not constitute hindrances to government determination to achieve maximum production.”

He proposes security summit for the oil producing areas in the country, particularly the Niger Delta areas.