FEC approves N117bn for Oloibiri Oil and Gas Museum in Bayelsa

The Federal Executive Council (FEC) has approved N117 billion for the construction of Oloibiri oil museum in Bayelsa State.

The Minister of State for Petroleum Resources, Timipre Sylva, made this known when he briefed State House correspondents on the outcome of the council meeting, chaired by President Muhammadu Buhari in Abuja recently.

According to him, the proposed museum will also serve as a research centre to enhance academic activities.

”The Federal Executive Council has approved the award of the contract for the construction of the Oloibiri Oil Museum and Research Centre to Julius Berger PLC in the sum of N117 billion with a completion time frame of 30 months,” he said.

The minister stated that the museum was started in the early 80s by the late President Shehu Shagari but could not be continued due to paucity of funds.

He, however, revealed that the Buhari administration had injected life into the project because of its importance.

Oil marketers frustrating govt’s efforts

On the recent emergence of queues at petrol stations across the country, the minister accused some marketers of frustrating the government’s efforts in making the product available to motorists.

“This is quite unfortunate and we are not happy at all with what is going on. Every hand is on deck to check the excesses of these marketers.

”At the moment today there is supply but unfortunately we are experiencing some bottlenecks in the distribution and movement of the product to various destinations.

”I want to assure you that everything is being done; the NNPC Ltd. and all other stakeholders are working hard to ensure that this problem is resolved.

”We have reports of profiteering by marketers and I have directed the pricing regulatory agency, Nigerian Midstream and Downstream Petroleum Regulatory Authority to sanction anybody who profiteers on this kind of situation,” Sylva stated.