The minister of State for Petroleum Resources, Ibe Kachikwu, has launched an initiative tagged “Project 100”, aimed at helping small scale entrepreneurs in the oil industry to improve the Nigerian oil and gas sector.
60 companies have been identified as beneficiaries of the first batch.
Kachikwu said government will partner international oil companies (IOCs) to provide financial support to these indigenous companies in the oil and gas value chain to ensure expansion and guaranteed growth.
The project will also identify critical companies that are in the background,offering services and do not have the capital to expand and buy the latest technologies and skills.
