Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, says the country has secured $13 billion worth of energy investments.
In a statement she signed and released on Friday, she pointed out that her office, in partnership with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has concluded a series of strategic engagements with fifteen (15) leading international and independent Oil and Gas Companies operating in Nigeria, including Chevron, Total, Shell, NAOC, Exxon Mobil, Seplat, Heirs Holdings, Waltersmith, First E&P, among others.
The statement pointe out that one of the key objectives of the discussions was to advance a Presidential Initiative aimed at addressing the nation’s revenue emergency whilst contributing to stabilising Nigeria’s economy.
Verheijen said results of these talks disclosed significant investment opportunities with an estimated $55.2 billion in investments projected by 2030, of which $13.5 billion is expected to be invested by these companies within twelve months from now.
She added that during the consultations, participating operators shared insights into the challenges and barriers affecting their investment strategies and the swift rollout of planned projects.
The presidential aide stated that collectively, they also pinpointed the key enablers required that will ensure the delivery of 2.1 million barrels by December 2024, positioning Nigeria well ahead of President Tinubu’s campaign promise of 2.6 million barrels by 2027.
The proposed measures to according to her, are also expected to cause a 100 per cent increase in gas production by 2027, exceeding President Bola Tinubu’s campaign pledge of 20 per cent growth in that sector.
She also noted that with the conclusion of these consultations, it is anticipated that the $13.5 billion in short-term investment components, currently in the pipeline, will pave the way for the delivery of 2.1 million barrels per day production by December 2024, barring any unforeseen challenges.