Written By Chris Ugwuja, Nsukka

The Tripod of the Muhammadu Buhari administration is hinged on ensuring security of lives and property, growing the economy and achieving zero tolerance for corruption.

Making the assessment at the Nsukka Campus of the University of Nigeria was the Minister of State For Petroleum Resources, Dr. Emmanuel Ibe Kachikwu during the 45th convocation lecture titled “Oil Resource Management and Implication for National Security and Economic Survival”.

He revealed that the new agenda for the oil and gas industry is centred around having the right people, doing the right things at the right time, for the right purpose and to yield the right results.

Dr. Kachukwu stated that the objectives of the reform included increasing revenue for the country through sales of petroleum, Petroleum products and taxes on profitable enterprises, in addition to maximizing value added on the crude oil and gas to establish linkage with other sectors through local processing and establishment of gas-based industries thereby stimulating economic growth and development.

Others, according to the minister were providing petroleum products at affordable price by ensuring lowest cost factor inputs to encourage economic growth and international competitiveness and redistribute benefits of country’s oil resources to the masses and protecting the environment and avoiding negative impact to the environment associated with production, processing, refining, transporting and consumption of petroleum and petroleum products.

Dr. Emmanuel Kachikwu who doubles as Group Managing Director, Nigerian National Petroleum corporation (NNPC) also pointed out that it was a way of providing employment opportunities for Nigerians.

Earlier, the Vice-Chancellor of the University, Prof. Benjamin Chukwuma Ozumba in his address recalled that the convocation lecture has become an annual ritual in which an illustrious Nigerian is given an opportunity to shed light on a chosen topic that does not only affect the University system, but the country as a whole.

He further recalled that given the establishment of the University of Nigeria and the innovative ideas that accompanied its evaluation, the institution has contributed, in no small measure to the promotion of social, economical and intellectual development of Nigeria and the world through research based knowledge.

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