Nigerian energy firms anticipate $13.5 billion in investments over the course of the next 12 months, according to information released by the government.
The Times reported that this was said by the Special Adviser to the President on Energy, Olu Verheijen, in her goodwill message at the 2023 Annual Dinner of the Independent Petroleum Producers Group, which was held in Lagos.
According to Verheijen, her interactions with the stakeholders had demonstrated the abundance of enormous investment prospects in the sector, which is projected to generate $55.2 billion in opportunities by 2030.
According to her, the Tinubu administration is still dedicated to enhancing the nation’s business and investment environment, particularly in the energy sector, in keeping with its “Renewed Hope Agenda.”
Verheijen stated that the president was totally dedicated to the growth of the energy sector and was actively looking into all options to increase income and the economy as a whole, just as she had stated during previous stakeholder engagements in the field.
In that aspect, she insisted, the oil and gas industry was still vital, even though present output levels are well below what the country can achieve.
“My office has since started working on key areas of reform to spur the growth of the energy sector, which would also positively impact small businesses and the average Nigerian’s livelihood,” Verheijen said.
“In an effort to boost petrol supply and usage on the domestic market, the president recently approved the Import Duty Waiver. This waiver applies to all equipment imported into the Nigerian market for use with Nigerian gas, including machinery, equipment and replacement parts connected to compressed natural gas and liquefied petroleum gas.
The presidential adviser continued by saying that talks were still in progress to enhance the security and quality of the energy sector and to put in place the right financial incentives for expansion.
According to her, new incentives were anticipated to increase oil and gas investments in the country and enhance the energy sector as a whole.
