The international investment community has received assurances from President Bola Tinubu that his administration will make sure Nigeria continues to be a top choice for both onshore and offshore projects.
Tinubu said, “The moment I took over, there was a clear path that we set out to pursue, and we will ensure that Nigeria remains a top-level investment choice in the dynamics of the offshore and onshore sectors,” upon meeting Group Chairman and CEO of Total Energies Worldwide, Mr. Patrick Pouyanne, at the State House in Abuja on Monday.
“In order to encourage gas production in the era of the shift to greener energy, we will examine problematic regions from a financial and non-fiscal standpoint.”
He restated the determination of the federal government to remove any barriers to investment in the nation.
“We are dedicated to clearing out any obstacles to investment in the oil and gas sector. We are dedicated to following a well-defined course. “We are prepared to collaborate with you,” stated President Tinubu.
He praised Total Energies for its years of exploration and investment in Nigeria’s oil and gas industry, pointing to the accomplishment as proof of the company’s faith and dedication to the country.
The President gave the group his word that his administration was committed to enhancing Nigeria’s investment climate and emphasised that the Petroleum Industry Act’s primary goal is to foster a conducive business environment.
He restated the determination of the federal government to remove any barriers to investment in the nation.
Earlier in his speech, the Global CEO of Total Energies Worldwide, Patrick Pouyanne, told President Tinubu that, with 8 to 10 percent of the company’s global production and more than 18 percent of its global investment, Nigeria was “very important” to Total Energies.
He said, “Mr. President, we are prepared to invest $6 billion in the upcoming years.” We are examining in great detail the possibilities for increased gas and deepwater production throughout the terrain.
“We applaud your policies and your individual pledge to guarantee that the necessary financial incentives are given while security concerns are addressed. Everything is in its proper place. We only need to wrap up the adjustments and modifications necessary to unlock the outstanding potential in both oil and gas.”
Pouyanne also emphasised the company’s dedication to upholding its zero-flaring status in Nigeria in order to benefit Nigeria’s Energy Transition Plan while simultaneously improving the environment and making money off of any gas resources that are accessible.
