The chairman of Heirs Holdings, Mr Tony Elumelu, has stated that Nigeria needed increased oil production to fund the country’s economic diversification and development.

Elumelu made the declaration at the Nigeria Petroleum Industry Leadership Discourse in Abuja, highlighting the crucial role of oil revenues in driving industrialisation, energy security, and infrastructural growth.

The discourse, themed “Nigeria’s Oil Production Growth Roadmap: Acceleration Imperatives”, was convened under the umbrella of Heirs Energies, a subsidiary of Heirs Holdings, to bring together industry stakeholders and policymakers to strategise on expanding oil production.

Elumelu, who also serves as the chairman of the United Bank for Africa (UBA) and Transcorp Group, emphasised that while there is a global dialogue about energy transition, Africa’s foremost concern should be energy security.

https://independent.ng/elumelu-wants-higher-oil-production-for-nigerias-economic-growth/