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See what President Buhari told foreign investors on Monday

“Let me assure foreign delegates that their investments are well secured in Nigeria and a high return on investment is always guaranteed."


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President Muhammadu Buhari

There is no need to panic, your investments are safe in Nigeria, said President Muhammadu Buhari to foreign investors in Nigeria.

Buhari gave the assurance at the ongoing Nigeria International Petroleum Summit (NIPS) in Abuja, on Monday, reports the News Agency of Nigeria, NAN.

The summit which is the 3rd edition has as its theme: “Widening the Integration Circle: Technology, Knowledge, Sustainability Partnership’’.

Represented by the Secretary to the Government of the Federation Mr Boss Mustapha, he said that Nigeria as an oil-producing nation remained ready and accessible for legitimate investment from all interested countries, individuals and partners.

“Let me assure foreign delegates that their investments are well secured in Nigeria and a high return on investment is always guaranteed.

“It cannot get better anywhere,” he said

He added that towards achieving the realisation of a safe and secure investment environment, his administration had taken steps to reposition the oil and gas sector.

The steps, he said include improving the business environment and driving investments in the upstream, midstream and downstream, reviewed and gazette policies and regulations to enhance operations in the sector.

Also, read EXPLAINED: 7 things you need to know about CBN's new guide on bank charges

Other steps are to enhance accelerated revolution by developing infrastructure for multi-domestic utilisation of LPG and CNG, commence the process of commercialising gas flare.

The rest is to increase gas to power and improve Niger Delta security through capacity building and economic empowerment, enforcing transparency and efficiency in the sector by building capacity, enabling the use of IT and automation and entrenching performance management.

The president noted that increasing refineries production capacity, improving stakeholder’s management, international relations and bi-lateral coordination and Carry out extensive work for the passage of the Petroleum Industry Bill (PIB) was also among the steps.

The steps he added would open the oil and gas sector to competitiveness.

NAN

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