Trump attends Nigeria’s oil roadshow-Kachikwu

Donald Trump
Donald Trump

The President-elect of the United States,  Donald Trump, will attend a roadshow being arranged by Nigeria to attract investment to the oil and gas sector.

Minister of State for Petroleum Resources,  Ibe Kachikwu, said on Tuesday in Abuja when he unveiled the goals of the Ministry of Petroleum Resources for 2017.

“We are going to be seeking to attract investments and complete all the MoUs we have in China and India.

“We are looking to do a roadshow to the UK, we are looking to do a road show to the US with President Donald Trump coming in,’’ he said.

The Minister said Nigeria would exploit the relationship built by President Muhammadu Buhari in taking a road show to the UK and US.

Kachikwu equally pledged the readiness of the Federal Government to pass the Petroleum Industry Bill (PIB) and allocate oil blocks in 2017.

“We are going to accelerate Federal Government’s revenues, look into areas where we could have made more money, so as to support the 2017 budget financing.

“We are looking to draw on the relationship that the president has built over time. We are going to be conducting oil blocks allocations and marginal flow awards to try and raise money for the government,” Kachikwu said.

He assured that Nigeria’s refineries would be revamped to produce at 60 per cent capacity.

“We need to start the revamping of the refineries. The president has given us marching orders on that. We still remain committed on our goal of 2018 to reduce importation by 60 per cent and 2019, stop the importation of petroleum products substantially”.

“Now we are going to continue to focus on downstream issues. Although we have liberalised, there are still some challenges”.

We are going to see how we work within the liberalisation infrastructure such that we are able to take away the low-hanging difficulties, Kachikwu said.