Nigeria: We'll Safeguard the Interest of Foreign Investors - Buhari

Photo: Wikimedia
Skyline of Lagos.
28 November 2019

President Muhammad Buhari has reiterated his administration's commitment to foster social and political stability in the country to safeguard the interest of investors.

President Buhari made this vow at the State House on Thursday in Abuja while hosting the Chairman/Chief Executive Officer of Total Group Worldwide, Patrick Pouyanne.

"The relationship between us and Total has been long and mutually beneficial. We want it to remain so. We have to be honourable, honest, and work together so that we can improve. At our end, we promise social and political stability, so that you can recover your investments. It's our duty as government, and we will do it so that we can maintain mutual confidence in each other," Mr Buhari said in a statement signed by the president's spokesperson, Femi Adesina.

Also, Mr Pouyanne in his comment revealed that Total apart from its wide investment in oil and gas in Nigeria would love to "develop the solar power potentials of Nigeria."

"Our portfolio is large. We have many more projects to come. The prospects for Nigeria in oil and gas remain huge. More developing activities are possible, and we need to keep the momentum and commit more investments to Nigeria," he said.

Meanwhile, Mr Buhari is set to join other leaders of major gas-producing nations of the world on Friday in the 5th Gas Exporting Countries Forum (GECF) Summit in Malabo, Equatorial Guinea.

The one-day meeting will have in attendance leaders of countries.

These include Algeria, Egypt, Equatorial Guinea, Libya, Bolivia, Iran, Qatar, Russia, Trinidad and Tobago, United Arab Emirates, Venezuela, Kazakhstan and Norway, whose countries account for 70 per cent and 80 per cent of global gas reserves and production respectively.

President Buhari had attended the Third Gas Summit in Tehran in November 2015. This 5th Gas Summit in Malabo is the first time the biennial meeting will be hosted in Africa.

It would be recalled that on November 19, 2019, President Buhari had received Gabriel Mbega Obiang Lima, the Special Envoy of President Teodoro Obiang Nguema Mbasogo, who brought a special invitation to the Nigerian leader to attend the summit.

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