Nigeria needs more investments in oil and gas now -Tinubu

…Assures investors of policy consistency

By Egena Sunday Ode

President Bola Tinubu on Monday said Nigeria needed more investments in the oil and gas sector, now more than ever, to enable government meet its increasing obligations.
Accordingly, he assured the business community of his government’s commitment to policy consistency and better business climate to attract the much needed investments.
The President spoke while receiving the delegation of the Shell Petroleum Development Company (SPDC) led by the Global Upstream Director, Ms Zoe Yujnovic at the State House, Abuja.
President Tinubu recalled said he welcomed the SPDC’s offer for more investments in the Nigerian oil and gas sector.
Tinubu recalled that attracting fresh investment was “a promise I made personally to Nigerians. Whatever it takes, I will fulfill that promise to Nigerians.”
The President reiterated that Nigeria is ready for business, assuring the Shell management and other investors of his administration’s willingness to maintain an open-door policy and address their concerns.
“We are open for business. We are serious. I give you the assurance of consistency in policy,” he said.
The President also assured that his government was removing all forms of bottlenecks in order to ensure Nigeria becomes an attractive investment destination.
Addressing the President earlier, Ms Yujnock applauded what she described as “incredibly strong start” of the Tinubu presidency and expressed optimism that the “bold” steps taken by the government would renew Nigeria’s pride of place as an investment destination.
Yujnock said SPDC was willing to ramp up investment in the country especially in the areas of gas and deep-water assets by pumping in billions of dollars.
She said Nigeria remains a strategic investment country for the company in view of the long history between the two entities and the prospects held by the county’s oil and gas sector.