President Muhammadu Buhari on Monday told investors that Nigeria had overcome the security challenges hitherto posed by terrorists and extremists in the North-East.
Buhari spoke in Abuja at the 6th African Petroleum Congress and Exhibition which had the theme ‘Positioning African Petroleum for Global Development and Value Addition.’
The President, who was represented by Vice President Yemi Osinbajo, urged investors at the international gathering to consider investing in Nigeria, as he assured them that the country was safe for their investments.
He said, “I am pleased to announce that as a result of regional cooperation and the doggedness of our armed forces, Nigeria has overcome the security challenges hitherto posed by terrorists and extremists in the northeast.
“Nigeria is therefore ready and accessible for investments from all interested countries, individuals and partners. Let me assure you that your investments are secured in Nigeria and a high return on investment is assured.”
The President confirmed that the unbundling of the Nigerian National Petroleum Corporation was part of strategies aimed at repositioning Nigeria’s oil and gas sector and announced a daily crude oil production target of 2.8 million barrels per day for country.
He told guests at the event that as part of strategies to reposition the oil industry, his administration had commenced the process of implementing carefully conceived initiatives.
He said, “Some of these include strengthening the institutional framework on policy formulation through legislation on the Petroleum Industry Bill as a prerequisite for the development of the sector and attraction of foreign investment; unbundling the national oil company, that is the Nigeria National Petroleum Corporation into lean, efficient and profitable components, that will operate as a business venture and deploy existing manpower to areas of competences without attendant job losses.”
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