During the United Nations General Assembly in New York, President Bola Tinubu had an important meeting with a delegation from ExxonMobil, a global oil and gas transnational giant. This meeting signaled Nigeria’s commitment to attracting significant investment in its oil and gas sector. In this blog post, we’ll delve into the key highlights of this high-level encounter.
President Tinubu emphasized that Nigeria is no longer settling for minimal opportunities in the global investment landscape. He stated that the country is more prepared than ever to engage with major energy conglomerates. With a resolute approach, Nigeria aims to foster an environment conducive to substantial capital inflow into its oil and gas industry.
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The President highlighted his extensive private sector experience, particularly as a professional accountant in the oil and gas sector. He stressed that his background equips him with the capacity to make difficult decisions and overcome obstacles hindering significant investments in Nigeria’s oil and gas industry. He pledged his commitment to addressing these challenges and facilitating job creation and wealth generation for the Nigerian people.
ExxonMobil’s Pledge:
Liam Mallon, the President of Global Upstream Operations at ExxonMobil, expressed awareness of President Tinubu’s renewed commitment to Nigeria. He assured the President that ExxonMobil is prepared to reciprocate these efforts with substantial new investments. As part of their commitment, ExxonMobil plans to increase production by nearly 40,000 barrels per day (bpd) in its Nigerian operations during phase one of a significant investment initiative in the country.
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