Nigeria’s President Bola Ahmed Tinubu has assured investors of his administration’s commitment to policy consistency and a better business climate to attract investment.
The President made the statement on Monday, 3 July, 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.
Tinubu welcomed the SPDC’s offer for more investments in the Nigerian oil and gas sector, adding that such investments are needed now more than ever to enable the government to meet its obligations.
The President recalled that attracting fresh investment was “a promise I made personally to Nigerians. Whatever it takes, I will fulfil that promise to Nigerians.”
Tinubu 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 became an attractive investment destination.
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Addressing the President earlier, Ms Yujnock applauded what she described as “incredibly strong start” of the Tinubu presidency. She 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.
