Veteran journalist Reuben Abati has sharply criticized Nigeria’s Minister of State for Petroleum, Heineken Lokpobiri, over his recent statement that the country expects $50 billion in oil sector investments by December.
Speaking in Abuja on Tuesday, October 8, Lokpobiri asserted that Nigeria is poised to receive these substantial investments as a result of efforts to address investor concerns and increase oil production to 2.7 million barrels per day. He praised the policy initiatives of President Bola Ahmed Tinubu, saying they have revitalized the oil industry, making it an attractive destination for both local and foreign investors.
However, Abati was skeptical of the Minister’s optimistic projection, expressing disbelief at the claim. He did not hold back in his criticism, accusing Lokpobiri of making unfounded statements and urging him to remain silent if he had nothing substantial to contribute.
"He doesn’t know what he’s talking about. He constantly puts his foot in his mouth," Abati said. "The last time, he was talking about refineries producing at full capacity when none are operational. Now he’s claiming $50 billion in investments by December, as if Tinubu is a miracle worker. December is just two months away. If the Minister has nothing to say, he should keep quiet."
Abati’s remarks reflect growing frustration with what he perceives as unrealistic promises from government officials. Lokpobiri’s assertion comes at a time when Nigeria’s oil sector is facing challenges, including low refinery output and global economic uncertainty, leading many to question the feasibility of attracting such a large sum of investment in such a short period.
Abati’s strong words add to the ongoing debate surrounding Nigeria’s oil industry and the ambitious goals set by the Tinubu administration.
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