The international investment community has received assurances from President Bola Tinubu that his administration will make sure Nigeria continues to be a top choice for both onshore and offshore projects.On Monday in Abuja, the President met with Mr. Patrick Pouyanne, the Group Chairman and CEO of Total Energies Worldwide, and reaffirmed the Federal Government's pledge to remove all barriers to investment in the nation.
Tinubu was cited as saying, "We are committed to removing all cobwebs and anti-investment impediments in the oil and gas industry," in a statement released by Presidential Spokesman Ajuri Ngelale.
"We are devoted to following a well-defined course. With you, we are prepared to work.
Tinubu praised Total Energies, describing the achievement as proof of the company's dedication and faith in Nigeria, for its years of exploration and investment in the country's oil and gas industry.
The President gave the group his word that his administration was committed to enhancing Nigeria's investment climate and emphasized that the Petroleum Industry Act's (PIA) primary goal was to foster a conducive business environment.
He restated the administration's determination to exerting all necessary pressure for industrial harmony, peace, and growth.
We had a clear plan in place when I took over, and we'll make sure Nigeria continues to be a top investment destination when it comes to the dynamics of both the offshore and onshore sectors.
"We will examine problematic regions, both financially and non-fisancially, in order to encourage gas production in the era of greener energy transition.
As a government, we are prepared to make a difference. In order to pursue the energy transformation, we have a good handshake for partnership and to expedite and incentivise gas development," he stated.
Nigeria is "very important" to Total Energies, according to Pouyanne, Global CEO of Total Energies Worldwide, since it contributes more than 18% of the company's global investment and 8–10% of its global production.
"We are prepared to invest $6 billion over the next many years, Mr. President. We are examining in great detail the possibilities for increased gas and deepwater production throughout the terrain.
"We applaud your policies and your individual dedication to guaranteeing that all necessary financial incentives are given while security concerns are addressed. Everything is in its proper place.
"We just need to wrap up with the adjustments and modifications required to unleash the tremendous potential in both oil and gas," he stated.
Pouyanne further emphasized the company's dedication to upholding its zero-flaring stance in Nigeria in order to benefit Nigeria's Energy Transition Plan while simultaneously improving the environment and making money off of all gas resources that are accessible.