The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has strongly refuted media reports alleging that the Federal Government intends to initiate a probe into the alleged diversion of the Frontier Exploration Fund (FEF). The Minister described the reports as “misleading and inaccurate,” clarifying the actual focus of his recent address to industry stakeholders.
In an official statement released by his Special Assistant on Media and Communication, Nneamaka Okafor, the Minister clarified that his remarks at the 43rd Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos on Monday did not announce, or even hint at, any formal investigation into the fund’s management.
According to the statement, Senator Lokpobiri’s address was solely aimed at emphasizing the mandatory and optimal utilization of the FEF, as stipulated under the Petroleum Industry Act (PIA).
The Minister stressed the urgent need to deploy the fund purposefully to accelerate crucial exploration activities in Nigeria’s underexplored frontier basins. These areas include the Chad, Anambra, Sokoto, and Benue Basins, which are vital for increasing the nation’s dwindling oil and gas reserves.
“The Minister’s comments were aimed at encouraging renewed commitment to the objectives of the Frontier Exploration Fund not at alleging wrongdoing or announcing any formal probe,” the statement affirmed.
Senator Lokpobiri reiterated the strategic role of the Fund, which is designed to unlock Nigeria’s untapped hydrocarbon potential. He emphasized that the FEF must be efficiently utilized to stimulate investment, enhance exploration campaigns, and secure the nation’s long-term energy future.
The Minister concluded by reaffirming the Tinubu administration’s unwavering commitment to the principles of transparency, accountability, and efficiency in the management of all public resources, particularly within the critical petroleum sector. The statement urged media practitioners to exercise due diligence to ensure official pronouncements are reported accurately and within their full context.
