The Minister of State for Petroleum Resources Timipre Sylva yesterday declared that there are prospects for exponential growth of the nation’s oil and gas sector in future.
He said the development was buttressed by the new investment plans in Nigeria which presents the trustworthiness of the Nigerian economy and the oil and gas industry.
The Minister spoke during a meeting with executives of Brevity Anderson, the event producer of the third edition of Nigeria International Petroleum Summit (NIPS).
He expressed readiness to host local and international players and executives across the various sub-sectors and disciplines in the energy, oil and gas vast value chain including exploration and production companies and the various end consumers at the summit.
NIPS 2020, scheduled for February 9 – 13, 2020 in Abuja, is a federal government of Nigeria official petroleum industry event.
The Federal Ministry of Petroleum Resources and all its parastatals including the Nigerian National Petroleum Corporation (NNPC), Nigeria Content Development and Monitoring Board (NCDMB) and Department of Petroleum Resources (DPR) are hosts.
He also said that from his observation, the great attention from the international oil companies for the event either through participation or sponsorship, is a reflection of Nigeria’s unique place on the map of oil and gas industry regionally and internationally.
The participation of the heads of the international companies in the conference plenary sessions demonstrates the successful cooperation across the sector and the new investment plans in Nigeria which presents the trustworthiness of the Nigerian economy and the oil and gas industry, and this confirms that there are opportunities to attract more investments to the industry in the future.
Speaking, the managing director of Brevity Anderson, Mr. James Shindi, attributed the increase recorded in number of delegates and exhibitors at NIPS 2019 to a number of factors, which include the success of the previous edition held in 2018.