Minister of State for Petroleum Resources, Timipre Sylva, has said the reluctance of oil firms to move their headquarters to the Niger Delta was as a result of constant restiveness by the youths.
Speaking at a special town hall meeting organised by the state government and the petroleum ministry with chiefs, youths and other stakeholders in the state, Sylva said asking oil companies to relocate to the Niger Delta without addressing the security concerns will only escalate the cost of crude oil production.
“We look at it from the perspective of cost. It will be cheaper for oil companies to operate from here because it is nearer from the operating areas.
“The only concern is that we have a responsibility to bring peace and security because that is another source of cost,” he said.
