TINUBU ASSURES INVESTORS OF BETTER BUSINESS CLIMATE

Shell official hails President’s ‘strong start’, reforms

President Bola Tinubu, yesterday, assured the business community of his government’s commitment to policy consistency and better climate to attract investment.

He gave the assurance, while receiving a delegation from Shell Petroleum Development Company (SPDC), led by the Global Upstream Director, Zoe Yujnovich, at the State House, Abuja.

The President welcomed the oil multinational’s offer for more investments in the Nigerian oil and gas sector, adding that the move was needed now more than ever, to enable government meet its obligations.

He recalled that attracting fresh investment was “a promise I made personally to Nigerians. Whatever it takes, I will fulfill that promise to Nigerians.”

Tinubu restated that Nigeria is ready for business, assuring the Shell management and other investors of his administration’s willingness to maintain an open-door policy and address their concerns.

“We are open for business. We are serious. I give you the assurance of consistency in policy,” he reiterated.
The President said his government was dismantling bottlenecks to ensure Nigeria becomes an attractive investment destination.
Earlier, Yujnovich, who assumed office on July 1 this year, applauded what she described as “incredibly strong start” of the Tinubu presidency and expressed optimism that the “bold” steps taken by the government would restore Nigeria’s pride of place as an investment destination.

She said SPDC was willing to ramp up investment in the country, especially in the areas of gas and deep-water assets, by pumping in billions of dollars.

The team leader noted that the most populous black nation remains a strategic investment country for her organisation, considering the long history between the two entities and the prospects held by Nigeria’s oil and gas sector.

Yujnovich has been a member of the Shell Executive Committee since 2021.

Yesterday’s meeting, which also had Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, in attendance, is the President’s first engagement since resuming office after the Sallah festivities and his foreign trips to France on June 20 and London on June 24.

The summit, it was gathered, is part of ongoing consultations with leaders from the oil and gas sector since his administration got on board.
The first citizen had previously interacted with Exxon Mobil executives, Mr. Liam Mallon, Mr. Richard Laing and Mrs. Adesua Dozie at the Presidential Villa.

He also met other key figures from the oil-rich Niger Delta region, including former Managing Director of the Niger Delta Development Commission (NDDC), Timi Alaibe and one-time Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside