Nigeria’s President, Muhammadu Buhari has today, assured the nation and investors that his government will definitely implement reforms to boost accountability and transparency in Nigeria’s oil and gas industry.
In a statement released during a meeting with senior officials of Chevron, led by the company’s President for Africa and Latin America, Ali Moshiri, President Buhari said that his government is gearing to effectively address the myriad of challenges in the sector.
Crude oil
“We understand the situation in the industry and we will do our best to address the challenges affecting exploration, production and distribution of oil products in the country,’’ the President announced to the delegation, according to a statement by Garba Shehu, the Senior Special Assistant to the President on Media and Publicity.
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He also announced that he would build on the good aspects of the Amnesty Programme initiated by President Umaru Yar’Adua which was made to reduce the violence in the Niger Delta region.
Buhari also announced that his government is also looking to implement other measures to enhance security in the Niger Delta and optimize investments in Nigeria’s oil and gas industry.
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In his statement, Mr Moshiri urged the President to aim to restore confidence of international investors in the Nigerian Oil industry.
He however said that investor are glad that security in Niger Delta has improved and said that his company, Chevron which has 36.7 per cent interest in the West African Gas Pipeline Company Limited, was keen to support Nigeria’s gas sector and bring more electricity to Nigerian consumers.
Crude Oil is Nigeria’s most exported product to the international market and accounts for much of the nation’s GDP.
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