Tinubu Vows To End Crises In Oil, Gas Sector

President Bola Ahmed Tinubu met with a delegation from ExxonMobil, a global oil and gas transnational giant, in New York.

VerseNews reports that President Tinubu emphasized Nigeria’s readiness for business in the oil and gas industry, citing abundant resources and strong leadership.

He drew on his private sector career in the oil and gas industry and his capacity to make difficult decisions as a basis for addressing industry challenges and attracting capital investment.

President Tinubu stated that Nigeria would no longer settle for minimal investments from global energy conglomerates and declared the country’s preparedness for substantial business engagements.

He expressed his commitment to personally oversee the resolution of industry issues to promote job creation and wealth generation for Nigerians.

ExxonMobil’s President of Global Upstream Operations, Liam Mallon, acknowledged President Tinubu’s dedication and pledged new investments, including an initial production increase of nearly 40,000 barrels per day (bpd) in Nigeria.

Mallon expressed willingness to collaborate with Nigeria and appreciated the progress made in previous discussions, particularly in expanding deep water production.