STATE HOUSE PRESS RELEASE
President Bola Tinubu has assured traditional rulers in the South-South geopolitical zone that his administration is committed to addressing their concerns over development and environmental degradation.
The President gave the assurance on Tuesday at the State House during a meeting with the South-South Monarchs Forum, led by His Royal Majesty, Major-General Felix Mujakperuo (Rtd), Chairman of the Delta State Council of Traditional Rulers, and Vice-Chairman of the South-South Monarchs Forum.
The President told the Royal Fathers that his administration is diligently working, both domestically and internationally, to strengthen Nigeria’s durability and approach to climate change, environmental restoration, infrastructure development, all while ensuring security and stability in the region.
Commending the monarchs for their understanding approach to his administration’s ongoing economic reforms, particularly the removal of the fuel subsidy, President Tinubu promised that Nigerians would soon enjoy the benefits of these tough, yet necessary decisions.
”We are working to revive the economy from the damage of several years. We seek your support, prayers, and understanding, and I am glad that the Vice-Chairman of the Forum served in an organization where we need intelligence to operate.
”You (the traditional institution) will be the source of the intelligence we need for the holistic development of our country, and anytime you need to tell us something, do not hesitate to reach out to this office. I will take on all of your concerns, and I will address each of them one by one.
”We cannot underestimate your contributions to the peace and stability of this country. Continue to uphold us in your prayers and in talking to our youths to keep faith with the country because light is already visible at the end of the tunnel,” the President said.
In his remarks, His Royal Majesty, Major-General Mujakperuo appealed to President Tinubu to follow up on all developmental efforts in the region to be sure that progress is tangible to the people.
“Mr. President, you know the problems of our region as an expert with experience in the energy industry. We see you working hard to solve our problems, and we are comforted that you have pledged to take on our concerns and bring a final solution to them,” the South-South Monarchs Forum Vice-Chairman said.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
January 23, 2024
STATE HOUSE PRESS RELEASE
PRESIDENT TINUBU: OUR INTERVENTIONS IN OIL AND GAS SECTOR WILL SAFEGUARD AND ENHANCE VALUE OF INVESTMENTS
President Bola Tinubu says his administration will continue to provide the needed interventions in the oil and gas industry in line with the provisions of the Petroleum Industry Act (PIA).
Speaking when he received a delegation from the Chevron Corporation, led by Mr. Clay Neff, President of Chevron International Exploration and Production, on Tuesday in Abuja, President Tinubu said Nigeria would strengthen its long-standing partnership with the multinational company in line with the evolving dynamics in the oil and gas industry.
The President welcomed Chevron’s commitment to build on its investments in shallow and deep water operations in Nigeria, noting the company’s ongoing $1.4 billion drilling project with the Nigerian National Petroleum Company Limited (NNPCL).
He also commended Chevron for its dedication to reducing its carbon footprint in the country.
”You must see the PIA as a legacy law. We assure you of quick interventions and turnaround on any issue you may have in your operations in our country.
”Nigeria is proud of the 60-year partnership with Chevron, and we believe this partnership will be strengthened to add mutually-beneficial value for the benefit of your shareholders as well as the living standards and economic opportunities of our population,” President Tinubu said.
In his remarks, Mr. Neff pledged that the company would continue to operate in full adherence to the highest standards, even as it meets its investment commitments in Nigeria.
He highlighted the company’s contributions to domestic gas supply, noting the delivery of 25% gas through a joint venture with NNPC Limited.
He also said Chevron was scaling up its investments in the country with its recent efforts in a new phase of development to include: “the conversion, under the Petroleum Industry Act, of all the NNPCL/Chevron Nigeria Limited Joint Venture (JV) Oil Mining Leases (OMLs) and Agbami OML 127 to Petroleum Mining Leases and Petroleum Prospecting Licences (PPLs); entry into OPL 215 block to boost deep-water development opportunities; signing of 20-year renewal of three deepwater leases; commencement of seismic data acquisition in several deepwater leases; commencement of life extension work on the Agbami project, and, in partnership with NNPCL, securing of $1.4 billion financing to fund the NNPCL/CNL JV infill drilling programme between 2022 to 2026, which includes the drilling of 37 wells in the shallow offshore and onshore Escravos area and associated facilities”.
Mr. Neff further informed President Tinubu that Chevron’s average annual tax and royalty remittances over the past three years had reached $3.4 billion.
”The bold steps you have taken since you assumed office are quite impressive. We are encouraged by our partnership of over 60 years, and we look forward, God willing, to continue that partnership for many decades to come.
”We are also looking at other opportunities as well, while operating with the best environmental practices. We will continue to grow our traditional oil and gas business because we know the countries where we operate are in need of those products, and the world needs those products,” he said.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
January 23, 2024
STATE HOUSE PRESS RELEASE
PRESIDENT TINUBU TRAVELS TO FRANCE
President Bola Tinubu departs Abuja for Paris, France, on Wednesday, January 24, 2024, for a private visit.
He will return to the country in the first week of February, 2024.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
January 24, 2024
