Oil and Gas Sector Requires Massive Infusion of Funds, Technology to Develop, Abdulmalik Halilu

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Abdulmalik Halilu, General Manager, Research, Statics and Development, Nigerian Content Development and Monitoring Board has said that the petroleum industry in Nigeria requires massive investment and infusion of new technologies from foreign investors in order for the industry to be self sufficient, viable and to generate employment opportunities for Nigerians whilst engendering development.

The General Manager explained that every year, many Nigerians would travel to Texas in the US to attend offshore technology conferences in order to understudy new innovations and technology in the field of hydrocarbon which Nigeria needs and to bring back home these ideas and technologies.

He stressed that since 2017, the Federal Government decided that Offshore Conference in Hydrocarbon should be held in Nigeria so that more Nigerians can participate in such meetings and get more exposed to new innovations, technologies and ideas so that the hydrocarbon sector of the country can be fully utilised for the benefit of the youths of the country .

However, due to the corona virus infection in the country last year, the conference could not hold, he said
He, nonetheless stated the country has resumed hosting of such conferences.

He added that in this year’s conference over 40 papers where presented, ideas were also exchanged. He also noted that the Minister for Petroleum, Timipreye Silver was at the occasion which highlights the importance the Federal Government has attached to the conference.
He further said that all the ideas, innovations and technologies that were derived from the conference would be put to use

and be able to come vibrant. He said to this effect, the Federal Government had sent