By Grace Samuel
Minister of State for Petroleum Resources, Heineken Lokpobiri, has informed of the Federal Government’s readiness to speedily consent to the decision by Shell to sell off its offshore assets.
The Minister, in a statement signed by his special adviser on media and communication, Nneamaka Okafor, on Thursday, January 18, stated that the federal government will grant Shell its request upon the presentation of the necessary documentation.
According to the statement, the minister spoke on the sidelines of the World Economic Forum in Davos, Switzerland.
Lokpobiri emphasized that the Nigerian government will not impede legitimate business transactions in the oil and gas sector.
The minister stated that concerns raised by IOCs, particularly with Nigerian banks, have been addressed, assuring a safe environment for the handling of funds related to decommissioning and abandonment.
He said: “On the part of the government, once we get the necessary documents, we will not waste time to give the necessary considerations and consent.
“As a government, we will adhere to the law without jeopardizing legitimate businesses.”
He noted that Nigeria loses nothing as such moves create opportunities for indigenous companies with the capacity to acquire and professionally manage these assets, leading to increased profitability and the maximization of their potential.
Lokpobiri added that the President has approved a licensing bid round, demonstrating the government’s dedication to initiating the process promptly.