• About Us
  • Privacy Policy
No Result
View All Result
Express Day
  • Home
  • NEWS
    • Politics
    • Health
    • Education
    • Crime
    • Judiciary
    • Environment
    • Science & Technology
  • BUSINESS
    • Finance
    • Insurance
    • Agriculture
    • Aviation
    • Energy
    • ICT
    • Maritime & Transport
  • INVESTIGATIONS
  • ENTERTAINMENT & ARTS
  • SPORTS
  • en English
    ar Arabiczh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanha Hausaig Igboit Italianko Koreanla Latinpt Portugueseru Russianes Spanishsw Swahiliyo Yorubazu Zulu
Express Day
No Result
View All Result
Home BUSINESS

Oil & gas: ‘Your investments are secure’, Buhari assures IOCs

ExpressDay by ExpressDay
February 10, 2020
in BUSINESS, NEWS
0
Oil & gas: ‘Your investments are secure’, Buhari assures IOCs
0
SHARES
9
VIEWS
Share on FacebookShare on Twitter

 

By Anthony Isaac

Despite the uncertainties existing in the oil and industry, following the non-passage of the Petroleum Industry Bill (PIB), President Muhammadu Buhari has assured International Oil Companies (IOCs) and other operators that their investments in the sector are secured and returns guaranteed.

President Buhari who spoke at the opening of the 3rd Edition of the Nigeria International Petroleum Summit (NIPS) in Abuja on Monday, said Nigeria remains open and ready for legitimate investors.

Buhari who was represented by the Secretary to the Government of the Federation, Mr. Boss Mustapha, disclosed that government has taken several steps in the past few years to improve investment environment in the country.

According to him, “I have always reiterated that Nigeria as a major oil producing nation remains ready and accessible for legitimate investment from interested countries, individuals and partners.

“Let me assure our foreign deligates that their investment are well secured in Nigeria and a high return on investment is always guaranteed. It cant get better anywhere.

He said the administration has improved the business environment and drive investment in upstream, midstream and downstream.
He said: “Towards achieving the realisation of a safe and secure investment environment, this administration has taken steps to repositioned the oil and gas sector in the following areas:
“Improve the business environment and drive investments in the upstream, midstream and downstream.

“Reviewed and gazetted policies and regulations to enhance operations in the sector.
“Enhance accelerated had revolution by developing infrastructure for multi domestic utilisation of LPG and CNG.

“Commence the process of commercialising has flare and increasing gas to power.
Fourthly, improve Niger Delta security through capacity building and economic empowerment.

“Enforce transparency and efficiency in the sector by building capacity, enabling the use of IT and automation and entrenching performance management.

“Increase refineries production capacity, improve stakeholders management, international relations and bi-lateral coordination.

“Carry out extensive work for the passage of the PIB, which will open up the oil and gas sector to competitiveness”.

Speaking earlier, the Minister of State Petroleum Resources, Chief Timipre Silva used the event to launch a new Nigeria Gas Transportation Network Code which will take effect from March 10, 2020.

The code is a contractual framework between the gas transportation network operator and gas shippers that specifies the terms and guidelines for operation and use of the gas network.

Sylva said: “The code will stimulate the domestic gas market, drive gas-based industrialisation and realisation of the government aspiration to move 100 million Nigerians out of poverty.

“The code in its current form has in-built modification mechanism. Hence, all stakeholders are assured of the periodic review of the Network Code to suit the dynamics of the industry”, he added.
He disclosed that over 50 countries were attending the summit, saying NIPS has become the foremost oil and gas conference on the African continent.

Like this:

Like Loading...

Related

Previous Post

Coronavirus: WHO applauds China, others for prompt information sharing

Next Post

Buhari congratulates D’Tigress for qualifying for 2020 Olympics

ExpressDay

ExpressDay

Next Post
Buhari congratulates D’Tigress for qualifying for 2020 Olympics

Buhari congratulates D'Tigress for qualifying for 2020 Olympics

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • Trending
  • Comments
  • Latest
With LP ahead, presidential poll heads for run-off — Nextier

With LP ahead, presidential poll heads for run-off — Nextier

February 5, 2023
Auchi Poly: Echoes of a Transformational Administration

Auchi Poly: Echoes of a Transformational Administration

January 26, 2023
A Rector and His Giant Strides

A Rector and His Giant Strides

January 27, 2023
Group blasts Omo-Agege’s aide over lies against Ogboru’s alliance with Okowa

Oddiri’s campaign of calumny can’t change Deltans’ love for Ogboru – Okotie-Eboh

January 21, 2023
Buhari pledges support for Turkey, Syria over deadly earthquake

Buhari pledges support for Turkey, Syria over deadly earthquake

February 7, 2023
Buhari hails Tems for winning Grammy award

Buhari hails Tems for winning Grammy award

February 7, 2023
Buhari describes his government’s infrastructure development as fantastic

Buhari condemns horrific terrorist attack on Katsina vigilantes

February 7, 2023
Use of Artificial Intelligence’ll boost healthcare delivery- Adigwe

Use of Artificial Intelligence’ll boost healthcare delivery- Adigwe

February 5, 2023

Recent News

Buhari pledges support for Turkey, Syria over deadly earthquake

Buhari pledges support for Turkey, Syria over deadly earthquake

February 7, 2023
Buhari hails Tems for winning Grammy award

Buhari hails Tems for winning Grammy award

February 7, 2023
Buhari describes his government’s infrastructure development as fantastic

Buhari condemns horrific terrorist attack on Katsina vigilantes

February 7, 2023
Use of Artificial Intelligence’ll boost healthcare delivery- Adigwe

Use of Artificial Intelligence’ll boost healthcare delivery- Adigwe

February 5, 2023

Follow Us

Browse by Category

  • Agriculture
  • Aviation
  • BUSINESS
  • Crime
  • Economy
  • Education
  • Energy
  • ENTERTAINMENT & ARTS
  • Environment
  • Feature
  • Finance
  • FOREIGN
  • Health
  • ICT
  • Insurance
  • INTERVIEW
  • INVESTIGATIONS
  • Judiciary
  • Maritime & Transport
  • Metro
  • NEWS
  • Oil and Gas
  • OPINION
  • PHOTO NEWS
  • Politics
  • Science & Technology
  • Security
  • SPORTS
  • TOP STORIES
  • Tourism

Recent News

Buhari pledges support for Turkey, Syria over deadly earthquake

Buhari pledges support for Turkey, Syria over deadly earthquake

February 7, 2023
Buhari hails Tems for winning Grammy award

Buhari hails Tems for winning Grammy award

February 7, 2023
  • About Us
  • Privacy Policy

© 2022 Express Day

No Result
View All Result
  • Home
  • NEWS
  • BUSINESS
  • INVESTIGATIONS
  • ENTERTAINMENT & ARTS
  • SPORTS

© 2022 Express Day

%d bloggers like this: