President, Muhammadu Buhari on Thursday, said that his regime had achieved success in stemming corruption and sharp practices in the nation’s oil and gas industry.
The President speaking at the virtual public presentation of four books by a former Minister of State for Petroleum Resources, Dr Ibe Kachikwu, said that when he was elected into office in 2015, the industry was in a very dire situation, worsened by a backlog of joint venture cash call arrears, production sharing contract disputes, security challenges and mounting fuel subsidies. “The industry was in need of reforms to attract more investments and generate the needed revenue to support the nation’s economic growth, the new regime acted fast to address the declining prospects of the industry and aggressively drive economic recovery and growth plans," he added.
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