From Femi Folaranmi, Yenagoa
The Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, has emphasized cross-sector collaboration to drive national profitability in the oil and gas industry.
According to him, to achieve long-term goals, every sector in the industry must be in synergy with one another.
Lokpobiri, who stated this during a strategic engagement with the Joint Venture (JV) partners, including Nigerian National Petroleum Corporation (NNPC), Caverton Offshore Support Group, and Stenabulk, noted that the JV represents a practical example of the government’s local content aspirations becoming reality.
‘’For us to maximize expected profitability and deliver long-term value to the nation, every sector of the industry must be actively firm and aligned with one another,” he said.
He described JV existing between NNPC, Caverton Offshore Support Group, and Stenabulk as a bold step toward enhancing shipping operations, strengthening local content, and driving economic growth through strategic industry alignment.
He expressed satisfaction with Caverton, an indigenous firm, in the partnership. “I am pleased to see a Nigerian company at the heart of this strategic partnership. It is not only a reflection of our commitment to inclusive development but also ensures national participation – something that strongly aligns with our Local Content policy. This initiative will boost the economy by ensuring revenue retention within our borders.”
Chief Operating Officer of Caverton Offshore Support Group, Mr. Olabode Makanjuola, affirmed the company’s readiness to deliver on the objectives of the joint venture. “We are proud to be a part of this collaboration. Caverton brings a strong understanding of local operations and a firm commitment to demonstrating that indigenous capacity can deliver world-class results.”
Echoing the enthusiasm, General Manager of Stenabulk, Mr. Fredrik Eriksson, described the partnership as “a unique opportunity to merge international shipping expertise with local operational strength. We are excited to collaborate with Caverton and NNPC to bring innovation and efficiency to the sector.”
Senator Lokpobiri commended NNPCL for their role in driving progress in the sector, and President Bola Ahmed Tinubu’s foresight and leadership, noting that such reforms and partnerships are already yielding measurable progress. “This joint venture is a testament to the President’s vision. It reflects the kind of impact-driven collaboration that we believe will transform the energy sector and strengthen Nigeria’s economic position.”
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