- The Federal Government strengthens collaboration with indigenous oil service providers to increase crude oil production
- Minister Lokpobiri praises Geoplex Oilfield Services for its state-of-the-art facilities and global competitiveness
- Tinubu’s administration focuses on local content, job creation, and fostering public-private partnerships in the oil and gas sector
The Federal Government has reaffirmed its commitment to bolstering partnerships with indigenous oil service providers, identifying this collaboration as a cornerstone for increasing crude oil production and fostering growth within the oil and gas sector.
This commitment was underscored by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, during an inspection of Geoplex Oilfield Services and WCS facilities in Port Harcourt.
The announcement was relayed in a statement on Wednesday, January 15, by the Minister’s Special Assistant on Media and Communication, Nneamaka Okafor.
Highlighting the importance of local partnerships, Lokpobiri stressed that achieving Nigeria’s production targets would be unattainable without robust cooperation with indigenous oil service providers.
“Our drive to increase production will be a mirage if we do not have strong collaboration with oil service providers, especially indigenous ones. However, with the renewed strategies under President Bola Ahmed Tinubu’s administration, we are taking deliberate steps to ensure that these collaborations thrive,” Lokpobiri stated.
The Minister praised Geoplex Oilfield Services for its cutting-edge facilities and adherence to global standards, noting that the company is well-positioned to rival international oil service providers.
“From my observations during the inspection, it is evident that Geoplex is fortified to meet the needs of the oil and gas industry at par with international service providers. Their dedication is truly commendable,” he remarked.
Recognition for Indigenous excellence
The Chairman of Geoplex Group, Mr Wole Ogunsanya, expressed gratitude for the government’s acknowledgement of the contributions made by local players in the oil and gas sector.
“We at Geoplex are proud to be part of the solution to Nigeria’s production challenges. Our facilities, investments, and technical expertise are all geared toward complementing the government’s efforts to ramp up production. We appreciate the support of the Federal Government and remain committed to our mission,” Ogunsanya said.
The inspection visit provided a platform to underscore the pivotal role indigenous firms play in Nigeria’s oil and gas industry. Lokpobiri also emphasised the need for a conducive business environment and sustained investments to empower local service providers, aligning with President Tinubu’s administration’s broader objectives.
“The work being done here is exemplary. Companies like Geoplex are proving that indigenous firms can deliver world-class services. With such dedication, we are confident that the future of Nigeria’s oil sector is in good hands,” Lokpobiri added.
Driving local content and economic growth
The Federal Government’s renewed focus on indigenous oil service providers aligns with its overarching goal of maximising local content, creating employment opportunities, and driving economic growth. By fostering public-private partnerships and enhancing support for local firms, the administration aims to unlock Nigeria’s full production potential and solidify its standing as a leading oil producer in Africa.
“As we chart a path toward energy security and sustainable growth, the collaboration between the government and indigenous oil service providers like Geoplex underscores the vital role of public-private partnerships in achieving national objectives,” Lokpobiri concluded.
The Federal Government’s inspection of Geoplex’s facilities serves as a testament to its resolve to revitalise the oil sector and achieve sustainable development, ensuring Nigeria meets its energy production and economic goals.
FG to allocate N6.5trn for personnel costs in 2025 due to new minimum wage
Meanwhile, TheRadar reported that the Federal Government disclosed that its expenditure on personnel costs would rise by at least 60 per cent in 2025, following the implementation of the newly approved national minimum wage and consequential salary adjustments for federal civil servants.
According to the newly released Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF), the government’s personnel costs would increase by N2.46 trillion, bringing the total personnel budget to approximately N6.56 trillion for the 2025 fiscal year.
