By Gift Olivia Samuel, The Sight News
Abuja-Nigerians Minister of State, Petroleum Resources, Dr. Ibe Kachikwu, has taken over as the new President of the African Petroleum Producers’ Organisation (APPO).
Kachikwu was officially handed over the mantle of leading the Council of Ministers of African Petroleum Producers’ Organisation (APPO),on Monday, by the out-gone President, Michel Boukar, at the opening ceremony of the Extraordinary Session.
Speaking to Newsmen in Abuja, Kachikwu stated that he will work assiduously, to ensure inter-regional cooperation, so as to help APPO achieve its objectives.
He further said that he will tackle three major issues which are: Setting up the APPO funds to become a vehicle for investment in the sector; Research and collaboration policies and Improve local content drive.
According to him, There is a paucity of funds for investment in the oil and gas sector and about five out of 50 countries in Africa is probably owed 70 percent of investment funds in the sector, so we need to find a way of getting more investment into that area, get APPO funds to be a catalyst”.
Kachikwu added that local content drive is important, as a lot of African countries are really not benefiting much.
Earlier, the APPO Secretary General, Mahama Laouan Gaya, said, that there is a need for framework, adding that APPO must be one of the organisations on which Africa must unite.