ExxonMobil Targets Fresh Investment In Nigeria, Says We Are Not Leaving

ExxonMobil has expressed optimism about investing further in Nigeria’s oil and gas industry, stating that it is not leaving the country despite ongoing divestment plans.

ExxonMobil’s managing director/CEO Shane Harris, gave this indication when he and his team met with the minister of state for Petroleum Resources (Oil), Heineken Lokpobiri, recently.

This is as the federal government reaffirmed its commitment to enhancing production and fostering a conducive environment for investors in the energy sector.

Lokpobiri highlighted the ministry’s strategic focus on creating robust collaborations and sharing innovative ideas with International Oil Companies (IOCs), a statement by his media aid Nneamaka Okafor, indicated.

“We are dedicated to ramping up production and ensuring a supportive environment for all investors by doing everything possible to maintain investor confidence in our country,” Sen. Lokpobiri stated.

During the meeting, Harris hinted at significant new investments that ExxonMobil is injecting into Nigeria’s energy sector. He expressed confidence in the renewed relationship between ExxonMobil and the Nigerian government, assuring that the oil giant is not planning to leave Nigeria. “We are excited about the prospects these new investments bring,” said Harris.

“Our partnership with the Nigerian government is crucial for sustainable growth, and we look forward to continuing our collaboration as we have no plan to leave.”

Lokpobiri commended ExxonMobil for their commitment, noting that it aligns perfectly with the nation’s objectives. “ExxonMobil’s planned investments are commendable and greatly appreciated. This renewed relationship is a testament to the mutual goals we share for the future of our energy sector,” he said.

The discussions also hinted at the ministry’s support for both international and independent oil operators. Lokpobiri assured Harris of the government’s support, emphasising the importance of creating a thriving

environment for all stakeholders. “We fully support ExxonMobil and other IOCs, just as we do with independent operators. Our collaborative efforts are key to the sustainable growth of our energy sector,” he added.

The minister stressed the importance of continued dialogue and partnership between the government and IOCs to drive innovation and growth in the sector.