President Bola Tinubu has reassured the international investment community of his commitment to ensuring that Nigeria remains a top choice for both onshore and offshore projects.
During a meeting with the Group Chairman and CEO of Total Energies Worldwide, Mr. Patrick Pouyanne, at the State House in Abuja on Monday, President Tinubu outlined his administration’s dedication to fostering a conducive business environment.
Upon assuming office, President Tinubu stated, “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.”
He highlighted the government’s focus on encouraging gas production in the context of the global shift to greener energy.
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President Tinubu reiterated the government’s commitment to removing any barriers to investment in the oil and gas sector, emphasizing a well-defined course and a collaborative approach.
He praised Total Energies for its longstanding exploration and investment in Nigeria’s oil and gas industry, considering it evidence of the company’s faith and dedication to the country.
The President assured the Total Energies group that his administration was dedicated to enhancing Nigeria’s investment climate, emphasizing that the recently enacted Petroleum Industry Act aims to create a conducive business environment.
Patrick Pouyanne, the Global CEO of Total Energies Worldwide, expressed the company’s commitment to Nigeria, highlighting its significant share of global production and investment in the country.
He disclosed the company’s readiness to invest $6 billion in the coming years, focusing on opportunities for increased gas and deepwater production.
Pouyanne praised President Tinubu’s policies and personal pledge to provide financial incentives while addressing security concerns.
He acknowledged the need for adjustments and modifications to unlock the outstanding potential in both oil and gas, emphasizing the company’s dedication to maintaining its zero-flaring status in Nigeria to support the country’s Energy Transition Plan.
Overall, the meeting underscored the mutual commitment of the Nigerian government and Total Energies to collaboration, investment, and sustainable practices in the oil and gas sector.
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