Just In: Buhari approves Nigeria’s marginal field bid round – Sylva

*To roll out LPG penetration policy in June

Just In: Buhari approves Nigeria's marginal field bid round - Sylva
Chief Timipre Sylva

The Minister of State for Petroleum Resources, Chief Timipre Sylva, on Thursday, said that the petroleum ministry had gotten approval from President Muhammadu Buhari for the award of marginal oilfields

This is coming even as he stated that the Federal Government will roll out its policy on Liquefied Petroleum Gas (LPG), also known as Cooking Gas, toward the end of June 2020, to ensure its penetration across the country.

Sylva during a briefing with newsmen in Abuja, on the performance of the sector, said that, “The oil well award will be conducted this year on the passage of the Petroleum Industry Bill (PIB).

“The Federal Government would conduct major oil bid rounds, especially after issues surrounding the fiscals and other issues have been addressed,’’ he said.

Sylva said that work had been concluded on the PIB, and the petroleum ministry was on the verge of presenting it to the President and the Federal Executive Council (FEC) for approval.

He said it would, thereafter, be presented to the National Assembly.

On LPG penetration

Meanwhile, Sylva noted that the government had planned to roll out the policy around the end of April 2020  but could not because of the coronavirus (COVID-19) pandemic.

READ ALSO: Economists differ on plan to rework 2020 Budget oil benchmark

“We had a roll-out date in April ending, but because of the COVID-19, the gathering was not possible; we have moved it to May ending, but we are not seeing the possibility of it going to happen.

“We have now considered to roll out in June ending. We are going to start, and a lot of jobs will be created through it, ” the minister said.

He said that under the policy, the government planned to set up 32,000 Micro Distribution Centres (MDC) for LPG across the country.

Sylva said that 5000 youths across the country would be trained in the business, especially in the fabrication of the material, and would be given starter packs to be able to sell the products.

According to him, some of the illegal retailers of the product will be incorporated in the programme to help in achieving the aim of penetration in all areas in the country.

He said that the programme would create a lot of jobs in the country and encourage more Nigerians to use LPG.

 

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