Nigeria remains prime investment destination for energy companies, FG

 

 

 

Isaac Money -Yenagoa

 

The Federal Government says Nigeria remains an exceptional investment destination for energy companies.

The Minister of state for Petroleum resources (oil), Senator Heineken Lokpobiri made the remark when he met with the delegation from Chevron on the sidelines of the ongoing Africa Energy Week 2024 (AEW2024) in South Africa noted that Nigeria’s advantages are supported by the favorable policies and a supportive operational framework.

“With a focus on opportunities for increased investment, particularly in the deep offshore exploration arena, which holds substantial untapped potential, I had a productive meeting
with the delegation from Chevron on the sideline of AEW2024, discussing ways to strengthen Chevron’s engagement and investments in Nigeria’s oil sector.

“I emphasized that Nigeria remains
a prime investment destination for energy companies, driven by favorable policies and a supportive operational framework, said Lokpobiri who added that the federal government has “implemented significant reforms, backed by the Presidential Orders, which create a more conducive and efficient environment for international players in the oil and sector gas.

According to the minister,
Chevron’s continued commitment and expansion in Nigeria would not only bolster the nation’s energy security but also further Nigeria’s economic development goals.

He disclosed that during the meeting with Chevron, he encouraged Chevron, and by extension other investors, to “seize the unique opportunities presented by these reforms, positioning themselves strategically within one of Africa’s most dynamic energy markets.”