President Bola Tinubu has confidently pledged to the international investment community that Nigeria will remain a premier destination for both offshore and onshore investments under his administration.
In a meeting with Total Energies Worldwide’s Group Chairman and CEO, Mr Patrick Pouyanne, President Tinubu reiterated the federal government’s firm resolve to dismantle all impediments hindering investment in the country.
President Tinubu lauded Total Energies’ long-standing commitment to exploration and investment in Nigeria’s oil and gas sector, citing it as a testament to the company’s enduring faith in the Nigerian economy.
To further bolster the appeal of Nigeria to investors, President Tinubu emphasized his administration’s unwavering dedication to improving the investment climate. He specifically highlighted the Petroleum Industry Act (PIA) as a key initiative paving the way for a more conducive environment for investment and business operations.
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In a display of commitment, Governor Tinubu pledged that his administration will prioritize efforts to achieve industrial peace, harmony, and development.
Total Energies’ Global CEO, Patrick Pouyanne, emphasized Nigeria’s strategic importance, highlighting its contribution of 8-10% to global production and over 18% to global investment.
“Mr. President, we are ready to invest $6 billion in the coming years. We are looking extensively at more deepwater production and gas production opportunities across the terrain. We welcome your policies and your personal commitment to ensuring that all required fiscal incentives are provided while security issues are tackled. Everything is here. We just need to conclude with the tweaks and changes necessary to unlock the outstanding potential in both oil and gas,” the Total Energies Worldwide Group Chairman stated.
Highlighting TotalEnergies’ alignment with Nigeria’s Energy Transition Plan, Pouyanne reiterated the company’s dedication to monetizing all available gas resources. This not only generates economic value but also supports environmental sustainability through continued adherence to the zero-flaring policy.
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