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LequteMan
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Seplat Chairman and co-founder A. B. C. Orjiako, has urged President Muhammadu Buhari has to sell Nigeria's stakes in joint ventures in the country's energy industry for the sector to develop.
Through Nigeria National Petroleum Corp (NPCC) the government owns shareholdings in a number of joint exploration and upstream ventures with international oil companies.
Selling the stakes would help the government focus on areas like tax collection, while strong private sector involvement in industry would help spur economic growth, Orjiako told REUTERS.
"Collecting tax and focus on making sure that the industry grows, and when the industry grows it will create jobs ... and do something for the government," he said, speaking on the sidelines on an investment conference.
"And the best way is to not necessarily to hold massive working interests in the JVs," he said, adding Seplat would be interested in picking up some of the stakes, especially in the gas sector, if terms were right.
Through Nigeria National Petroleum Corp (NPCC) the government owns shareholdings in a number of joint exploration and upstream ventures with international oil companies.
Selling the stakes would help the government focus on areas like tax collection, while strong private sector involvement in industry would help spur economic growth, Orjiako told REUTERS.
"Collecting tax and focus on making sure that the industry grows, and when the industry grows it will create jobs ... and do something for the government," he said, speaking on the sidelines on an investment conference.
"And the best way is to not necessarily to hold massive working interests in the JVs," he said, adding Seplat would be interested in picking up some of the stakes, especially in the gas sector, if terms were right.
