• ‘No single exploration in Nigeria for 12 years due to bottlenecks’Chief Executive Officer of TotalEnergies, Patrick Pouyanne, said Nigeria’s dilly-dallying meant there was no single exploration in the Niger Delta region in the last 12 years.
While investment inflow into Nigeria’s oil sector reportedly declined from $22.2 billion in 2014 to $6 billion in 2021, the National Bureau of Statistics showed that foreign investment fell to zero in the second quarter of 2023. “We have countries that have perfectly integrated policies like Angola. So, we went to Angola and announced a very large $6 billion project in the beginning of the week because their framework is stable,” Pouyanne said.
Lokpobiri sees the Petroleum Industry Act as a robust legal framework that guarantees returns on investments, stressing that it significantly reshapes the oil and gas sector. “The PIA ensures a secure and profitable investment climate, making Nigeria an attractive location for investors,” he noted. Ahead of the opening of the student loan portal on Friday, Nigeria Education Loan Fund has said it would commence with stude
Hearing of an ex parte motion for stay of proceedings filed by the Economic and Financial Crimes Commission Chairman, Ola Olukoyode,