President Bola Tinubu welcomed a high-level delegation from ExxonMobil, the global oil and gas giant, to New York on Monday, where he boldly asserted that Nigeria is no longer contented with meager investments from the world’s leading energy companies. He declared that “Nigeria has never been more ready for business than it is now.”
Speaking at the meeting, President Tinubu, who brings a wealth of experience from his private sector career as a professional accountant in the oil and gas industry, emphasized his readiness to tackle the challenges hindering substantial foreign capital from flowing into Nigeria’s oil and gas sector.
Join our WhatsApp ChannelIn a resolute tone, he sais: “The complex issues at hand demand my direct involvement. Despite numerous other commitments, I am committed to overseeing the removal of obstacles to job creation and wealth generation for the Nigerian people. We understand this industry inside out. We are equipped to resolve the issues, and we are pragmatic; we will solve them.”
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ExxonMobil’s President of Global Upstream Operations, Liam Mallon, acknowledged President Tinubu’s personal commitment to Nigeria’s cause and pledged to reciprocate with substantial investments.
He announced ExxonMobil’s commitment to introduce nearly 40,000 barrels per day (bpd) of new production in Nigeria as part of their phase-one investment push in the country.
Mallon expressed his confidence in President Tinubu’s leadership, saying, “Your words have not fallen on deaf ears. Your team’s collaboration with us has been fruitful, and we have made significant progress since our last meeting. We are increasing our production and focusing on expanding our deepwater operations. We value your efforts, and we will respond in kind. The time is ripe. Thank you for your leadership.”
President Tinubu’s resolve to revitalize Nigeria’s oil and gas sector and ExxonMobil’s commitment to increased production mark a significant development in Nigeria’s pursuit of foreign investments and economic growth.
This meeting has set the stage for increased cooperation between the Nigerian government and major international players in the energy industry, signaling a potential revitalization of Nigeria’s oil and gas sector, with promises of job creation and economic prosperity on the horizon.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
