What do you believe is the single most important factor driving up the cost of living in Nigeria?

The FPSO project is one of the measures arising from the minister’s engagement with NNPCL, in line with President Bola Tinubu’s directive for increased production, and it is strategically designed to enhance local capacity and drive further investments into the nation’s oil sector.

Lokpobiri commended the collaboration between NNPCL, Century Group, and other partners, identifying the project as a critical element in Nigeria’s efforts to significantly increase crude production and meet global demands.

“The work being done here is a reflection of the kind of investments we want in the oil sector. With projects like this, we are not only building local capacity but also expanding our crude production beyond current quotas.

“This facility alone will contribute an additional 40,000 bpd, which is a step in the right direction for our economy,” the minister was qouted as saying.

He further underscored the importance of increasing Nigeria’s oil output, highlighting the government’s commitment to supporting partnerships that aim to revitalise the sector.

• Read More