Minister Warns Oil Block Owners Over Development Delays.
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has issued a stern warning to oil block owners who have failed to develop their allocated resources, threatening to withdraw such licences.
Speaking on the matter, the minister emphasised the government’s commitment to maximising the country’s oil and gas potential. He noted that undeveloped oil blocks pose a significant challenge to Nigeria’s energy sector and economic growth, stressing that action must be taken against non-performing operators.
“We cannot afford to have valuable oil assets lying fallow while the country seeks to increase production and attract investment in the sector,” Lokpobiri stated.
The warning comes as part of broader efforts by the federal government to boost oil output, improve local participation in the industry, and ensure that resources are utilised effectively.
Industry stakeholders are expected to respond to the directive, with many anticipating a review of licences to identify inactive blocks. The government’s move aligns with its long-term strategy to drive investment and enhance Nigeria’s position in the global energy market.
