The Federal Government on Sunday night described the divestments by international oil companies from the Nigerian oil and gas sector as a threat to the industry.
It, however, challenged indigenous oil producers to see the IOCs’ divestments as an opportunity for Nigerian firms operating in the space to take advantage of the development.
The Chief Executive, Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, disclosed this at the Gala Dinner of the Independent Petroleum Producers Group in Abuja, which had the theme, “IOC Divestment – Nigeria’s Energy Security and the Role of IPPG in the New Dawn.”
