The Minister of State for Petroleum Resources, Timipre Sylva, on Sunday vowed to work with the new board members of the Nigerian National Petroleum Corporation to reduce the cost of crude oil production.
Sylva assured the President, Major General Muhammadu Buhari (retd.), that the Federal Ministry of Petroleum Resources would work with the board to deliver on the objectives of the oil industry.
The objectives, according to a statement from the FMPR, include bringing down the cost of production of crude oil, eliminating vandalism, improving the national crude oil reserve and passage of the Petroleum Industry Bill.
In his capacity as minister of state, Sylva is the Alternate Chairman of NNPC Board and the membership of the board includes the Group Managing Director of NNPC and Permanent Secretary of the Federal Ministry of Finance.
