“Since our financial investors said they are ready to the extent we are also ready, we have applied for a $5bn facility and we hope to pull this through and begin in earnest the aggressive investment in the basic areas of our interest in the oil and gas producing states across the country,” he said.
According to Emuh, while statutory financial allocations could come from the government for the development of the oil and gas-producing states, it was high time strategic steps were taken to involve the private sector. He explained that such a step was necessary not only for managing such funds more efficiently but also for utilising financial resources from the private sector to augment partnerships that worked for the good of all parties.
Emuh eulogised the President, Major General Muhammadu Buhari , for his administration’s gesture towards the oil and gas-producing states by signing the Petroleum Industry Bill into law, now Petroleum Industry Act.