Tinubu secures new ExxonMobil investment in Nigeria's oil and gas sector

Tinubu secures new ExxonMobil investment in Nigeria's oil and gas sector

President Bola Tinubu says the leadership of global oil and gas giant ExxonMobil has pledged new production of nearly 40,000 barrels per day in its Nigerian operations.

Ajuri Ngelale, Special Adviser to the President on Media and Publicity, disclosed this in a statement on Tuesday after Tinubu played host to a delegation from ExxonMobil in New York.

Tinubu noted that, following an illustrious private sector career as a professional accountant in the oil and gas industry, he has proven his capacity to make difficult decisions as President and is best prepared to solve problems and crush all bottlenecks standing in the way of new and large-scale capital flowing into Nigeria's oil and gas industry.

"The knotty issues require direct supervision on my part. Despite many contending obligations, I will sit down and oversee removing these encumbrances to job and wealth creation for the Nigerian people. We know the industry. We grew up in it. We are positioned to solve the problems, and we are pragmatic and will solve the problem", he stated.

ExxonMobil President of Global Upstream Operations, Liam Mallon, assured Tinubu that he is aware of the new and personal commitment that the President is bringing to bear on behalf of Nigeria and is well placed to reciprocate his efforts with further investment.

Mallon pledged new production of nearly 40,000bpd in its Nigerian operations in phase one of a new investment push in the country.

"You told us that your team would collaborate with us, which has proven true. We have made significant progress since we last met. We are growing our production and working hard to expand deepwater production.

"We appreciate your efforts, and we will respond in kind. The time is right. Thank you for your leadership," he stated.

We recall that Tinubu travelled out of Nigeria for the ongoing 78th United Nations General Assembly in New York, United States.


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