By Teddy Nwanunobi
President Muhammadu Buhari has disclosed that French multinational integrated oil and gas company, Total, plans to expand its investments plans in Nigeria.
Buhari, made the disclosure in his Twitter handle, said that the oil and gas firm not only intends to expand its investments, but also in renewable energy, and other areas.
“Nigeria and @Total will continue to be strong partners for investment and development, for the mutual benefit of both parties.
“In my meeting today with the Chairman and CEO of @Total, @PPouyanne, I stressed the fact that Nigeria is more a gas country than a crude oil country. Our administration is laying a solid foundation for Nigeria to realise its full gas potential.
“@Total has been an important part of Nigeria’s oil and gas journey for decades, and we thank them for their consistency. We will continue to work hard to enhance fiscal stability that will favor them and other investors in Nigeria.
“We also welcome their interest in expanding their investments not only in oil and gas in Nigeria, but also in renewable energy, and other areas. Nigeria and @Total will continue to be strong partners for investment and development, for the mutual benefit of both parties,” Buhari tweeted, after meeting with the Total team led by its Chairman and Chief Executive Officer (CEO), Patrick Pouyanne, in Paris, France on Wednesday.
During the meeting, Buhari discussed the need for improved fiscal stability with Pouyanne.
“HE President @MBuhari today granted audience to Chairman/CEO of @Total, Mr. Patrick Pouyanne in #Paris, France where he discussed the need for improved fiscal stability & attractiveness that are necessary for continuing investment into Nigeria’s vibrant oil/gas industry.
“At the meeting, @Total CEO emphasized the great potentials of the Nigerian hydrocarbon industry, providing assurances to Mr. President of his company’s commitment to continue to invest in Nigeria particularly in gas production & supply for both domestic & export through @nigeriaLNG,” the Nigerian National Petroleum Corporation (NNPC) tweeted.