Ibile Oil and Gas engages stakeholders on energy reforms in Lagos State

Lagos State Commissioner for Energy and Mineral Resources Mr. Olawale Oluwo has restated the vision of the Governor to makeLagos State a global, economic and financial hub through the development of sustainable energy strategy and safe exploitation of available mineral resources.

Oluwo, who disclosed this in his welcome address at a retreat organized by IBILE Oil and Gas Corporation (IOGC) held at Eko Hotel & Suites with the theme “IOGC as a Catalyst for Energy Reform in Lagos State”, said the retreat is to strategize the vision of IOGC, appraise the journey so far in relation to the intended impact of the Oil and Gas sector and map the way forward for the development of IOGC.

He said the review approach is consistent with the vision of this administration, adding that the ripple effect of the fluctuating crude oil price and its impact on Nigeria’s economy calls of a reappraisal of the Corporation’s strategy.

“We regard this moment as a breakthrough and a great feat for Lagos State because it has not only made the State the first outside the Niger Delta to become an oil-producing State, but it has created an avenue for additional generation other than through the conventional taxes,” Oluwo said.

The Commissioner assured the gathering that relevant resolution reached would be effectively implemented as the State is anticipating a boost in its economy through the industry.

Addressing the relevant stakeholders at the retreat, the Managing Director of IBILE Oil and Gas Corporation, Ms. Ola Debayo-Doherty said it is imperative to recognise the partnership of key players in the Oil and Gas Industry to drive the vision of the State to sustain a greener environment.

While discussing the recent development and implications of IOGC in Nigeria’s Oil and Gas Industry, the Managing Director advised participants to agree on the lessons learnt and gain consensus on the key imperatives to move OIGC forward in order to harness the potentials of the oil industry for the benefit of Lagos.

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