Following Abati’s Lashing, Embattled Lokpobiri Says Oil Production ‘ll Rise By 40,000 bdp In Nov

The New Diplomat
Writer

Ad

Tesla sales tumble 40% in Europe as BYD surges past rival

By Obinna Uballa Tesla’s grip on the European electric vehicle market continued to loosen in July, with sales plunging 40% year-on-year even as Chinese challenger BYD posted explosive growth, according to data from the European Automobile Manufacturers Association (ACEA) on Thursday. New car registrations of Tesla vehicles totaled 8,837 in July, down 40% year-on-year, according…

Tinubu Returns to Abuja, Says Foreign Engagements ‘ll Enhance Nigeria’s Economic Growth

By Abiola Olawale President Bola Ahmed Tinubu returned to Abuja on Thursday, August 28, 2025, following a state visit to Brazil and an earlier visit to Japan. Shortly after his return, Tinubu stated that his international engagements are focused on fostering economic growth, job creation, and long-term prosperity for Nigerians. In a statement shared on…

Access HoldCo Names Innocent Ike CEO as Aig-Imoukhuede tightens grip after Wigwe’s death

By Obinna Uballa Access Holdings Plc has confirmed the appointment of Mr. Innocent Ike as its substantive Group Managing Director and Chief Executive Officer (GMD/CEO), effective August 29, 2025, following approval from the Central Bank of Nigeria (CBN). The announcement comes less than 24 hours after Roosevelt Ogbonna, the Managing Director of Access Bank, resigned…

Ad

By Kolawole Ojebisi

Embattled Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, who has been suspended from the ruling All Progressives Congress(APC) by the party’s EXCO in Bayelsa State, has said that an ongoing Oil Floating Production Storage/Offloading facility in Lagos State has the potential of boosting Nigeria’s crude oil production by an additional 40,000 barrels per day by next month.

The project is a joint venture between Nigerian National Petroleum Company LimitedNNPCL. and Century Nigeria Limited, in partnership with West African Exploration and Production company and NNPC Energy Services Limited.

Lokpobiri’s claim is coming days after award-winning first class scholar, journalist and former Special Adviser on Media and Publicity to former President Goodluck Jonathan, Dr Reuben Abati lashed the Minister verbally for always making empty promises.

Abati, who is co-host of The Morning Show, an ARISE Television breakfast programme, had lambasted the Minister of State for Petroleum Resources, Lokpobiri, over a previous comments attributed to him to the effect that Nigeria was expecting a $50bn investment in the oil sector before this December.

It would be recalled that Lokpobiri had said that with foreign/local investors’ concerns being addressed, coupled with the “audacious’’ efforts to boost oil production to about 2.7 barrels per day, Nigeria remains a titan of African energy.

“Toward this end, the country is expecting $50 billion worth of investments in the sector before the end of the year,” Lokpobiri had declared.

The Minister made the statement last Tuesday in Abuja in the heat of fuel crisis rocking the country.

However, while reacting to Lokpobiri’s statement in full public glare, Abati said the Minister should stick to the “task” he was adept at executing which is defending Nyesom Wike.

Abati said: “He does not know what he is talking about. He constantly puts his foot in his mouth. Let him just stay in his allegiance to Nyesom Wike where he can speak with great certainty.

“The other time, he was saying the refineries will produce so, so, so ….no refinery is producing anything ..

“Now he is saying $50 billion worth of investment by December…because Tinubu is a miracle worker. December is just two months away. If the Minister has nothing to say, he should keep quiet’’,

Despite Abati’s lashing, Lokpobiri still claims that the ongoing project will boost the country’s crude oil production by additional 40,000 bpd.

This latest statement issued by Lokpobiri’s Special Assistant on Media and Communication, Nneamaka on Saturday, noted:

“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.”

Lokpobiri added: “This facility alone will contribute an additional 40,000 bpd, which is a step in the right direction for our economy.”

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.

Ad

X whatsapp