Nigeria: Every Investor Wants to Put Money in Nigeria - ExxonMobil Boss

20 November 2019

There is no investor who does not want to invest in Nigeria's oil and gas sector, the Chairman and Managing Director of ExxonMobil in Nigeria, Mr. Paul McGrath, has said.

Mr McGrath who also doubles as the Chairman of the Oil Producers Trade Section (OPTS) of the Lagos Chamber of Commerce and Industries (LCCI) said this yesterday when he visited the Minister of State for Petroleum Resources, Chief Timipre Sylva, in Abuja.

A statement signed by the Group General Manager and Special Adviser on Media to the minister, Garba Deen Muhammad, said the ExxonMobil boss appreciated the Minister for his frankness and assured that deepened partnerships will continue to be sustained and top-level representation at state events, made sacrosanct.

He noted his optimism that the two critical sector needs which include, certainty and business competitiveness will be put on the front burner by the Chief Sylva led Ministry of Petroleum Resources.

He pledged his commitment to sustain the relationship with the Federal Government through the Ministry of Petroleum Resources while noting that "there is nobody who doesn't want to invest in Nigeria."

In his remarks, Chief Sylva said although the aim of the Nigerian Government is to attract more investors in the Oil and Gas Sector, this should not be done at the expense of the long-term relationship that has been built over the years with existing investors.

Chief Sylva further touched on the recently assented Bill that amended the Deep Offshore (and Inland Basin Production Sharing Contract) Act, which he said was deemed necessary in recognition of the current realities in the sector.

He applauded the partnership between ExxonMobil and Nigeria while stating that "as partners in progress, frequent collaboration was important."

He encouraged ExxonMobil and other Oil firms to always endeavor to ensure full representation at State events that will further cement the partnership.

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