The President of Nigeria, Bola Tinubu has asserted that Nigeria will no longer settle for crumbs and leftovers on the world’s investment agenda, especially in relation to the energy sector.
The former Lagos State noted that the country is now more prepared for business than ever before.
He made this assertion while hosting a delegation from ExxonMobil, a global Oil and Gas transnational giant, in New York on Monday.
Tinubu noted that he is well-equipped to address issues and eliminate barriers preventing a major inflow of money into Nigeria’s oil and gas sector because of his outstanding private sector career, particularly in the oil and gas industry, and his shown track record of making difficult decisions.
He stated, ‘The complex issues require direct supervision on my part. Despite my numerous responsibilities, I am committed to overseeing the process of eliminating these obstacles to job creation and wealth generation for the Nigerian people.’
‘We understand the industry. We grew up in it. We are well-positioned to solve these problems, and we are pragmatic. We will resolve the issues.’
In his remarks, ExxonMobil’s President of Global Upstream Operations, Liam Mallon, assured the President of ExxonMobil’s awareness of his new and personal commitment on behalf of Nigeria.
He pledged new investments, promising an additional production of nearly 40,000 barrels per day (bpd) in phase one of their new investment initiative in Nigeria.
Mallon stated, ‘As you mentioned, your team would collaborate with us, and that has proven to be true. We have made significant progress since our last meeting.’
We are increasing our production and working diligently to expand our deepwater production. We appreciate your efforts, and we are ready to reciprocate. The timing is perfect. Thank you for your leadership.