Oil in Gas: Nigerian Government Reinstate Commitment Towards Improved Investments
The federal government of Nigeria has reiterated its commitment towards ensuring a conducive operational environment for investors in the energy sector, with specific focus on the oil industry.
This assurance was made by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri Ph.D, during a meeting with the President EP TotalEnergies, Mr. Nicolas Terraz, in Abuja.
A statement issued by the SA Media and Communication to the Minister, Nneamaka Okafor, noted that the discussions focused on TotalEnergies’ desire to embark on further investments in Nigeria, particularly in the Bonga North Offshore project and joint ventures with Shell Petroleum Development Company (SPDC) and the Nigerian National Petroleum Company Limited (NNPCL).
Senator Lokpobiri, while commending TotalEnergies for being a trusted and longstanding partner in Nigeria’s oil and gas sector, assured the company of the government’s unwavering support.
He emphasized that the Federal Government is fully committed to addressing any challenges that may have previously hindered investments, reaffirming Nigeria’s readiness to welcome more investments in the oil sector.
“Every necessary assurance to investors must not only be given but must also be seen to have been made. We understand the importance of creating an environment where investors can confidently expand their operations, and I can assure you that the requests made by TotalEnergies in the past are being addressed.
Nigeria remains ever ready and willing to facilitate more investments in the oil sector,” said Senator Lokpobiri.
The Minister further reiterated the government’s dedication to ensuring that Nigeria remains a competitive and secure destination for global energy investments, noting that strategic partnerships with companies like TotalEnergies will play a critical role in sustaining growth and development in the sector.
The discussions mark another step forward in fostering long-term partnerships with international investors, aimed at boosting production and ensuring sustainable development in Nigeria’s energy sector.
During the meeting, Mr. Terraz expressed his company’s satisfaction with the Federal Government’s ongoing efforts to provide a stable and investment-friendly climate.
These projects have recently received board approval, and Mr. Terraz noted that the company is working to finalize these deals by the end of the year.
“TotalEnergies is glad to see the positive steps taken by the Nigerian government in creating a conducive environment for business.
We remain committed to further deepening our investments in Nigeria, especially with the opportunities that projects like Bonga North Offshore and our joint ventures with SPDC and NNPCL present,” said Mr. Terraz.
