New York, USA – In a meeting with a delegation from ExxonMobil during the United Nations General Assembly, President Bola Tinubu assured international investors that he is well-equipped to address the challenges facing Nigeria’s oil and gas industry, drawing on his own experience in the sector.*
In a statement signed by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, President Tinubu emphasized Nigeria’s readiness for business and its determination to attract significant investment in the oil and gas sector.*
President Tinubu, who worked in the oil and gas industry, stated, “We know the industry. We grew up in it. We are positioned to solve the problems, and we are pragmatic, and we will solve the problem.” He affirmed that Nigeria is no longer content with receiving minimal attention from global energy conglomerates and is now actively seeking substantial investment.*
He highlighted his career in the private sector, particularly as a professional accountant in the oil and gas industry, as evidence of his capacity to make tough decisions as President and his readiness to tackle challenges hindering large-scale capital inflow into Nigeria’s oil and gas sector.*
President Tinubu acknowledged the need for direct supervision to resolve complex issues in the industry, and he pledged to personally oversee the process of removing obstacles to job creation and wealth generation for the Nigerian people.*
Liam Mallon, President of Global Upstream Operations at ExxonMobil, responded positively to President Tinubu’s commitment on behalf of Nigeria. He pledged that ExxonMobil would increase production by nearly 40,000 barrels per day in its Nigerian operations as part of a new investment initiative.*
Mallon expressed gratitude for President Tinubu’s leadership and collaborative approach, noting that the company had made significant progress in expanding its production, particularly in deepwater operations. He affirmed ExxonMobil’s commitment to respond in kind and work closely with Nigeria to further enhance the country’s energy sector.*
The meeting between President Tinubu and ExxonMobil representatives underscores Nigeria’s determination to attract investment and overcome challenges in the oil and gas industry, with a focus on job creation and economic development.*
