President Buhari Addressing An Audience at AU Summit Sideline, in Addis Ababa, Ethiopia

Buhari to Foreign Investors: Your investments are safe in Nigeria

Isola Moses

Despite reported cases of widespread insecurity, reign of terror by criminal elements, and huge infrastructural deficit in several parts of the country, President Muhammadu Buhari has reassured international investors that their investments in Nigeria are safe.

News Agency of Nigeria reports that President Buhari, in his goodwill message, gave the assurance Monday at the Nigeria International Petroleum Summit (NIPS), in Abuja, FCT.

The 3rd edition of the summit was titled, “Widening the Integration Circle: Technology, Knowledge, Sustainability Partnership’’.

Mr. Boss Mustapha, Secretary to the Government of the Federation (SGF), who represented the President, said that Nigeria as an oil-producing nation, remained ready and accessible for legitimate investments from all interested countries, individuals and partners.

He assures foreign delegates that their investments are well secure in Nigeria, and that high returns on investments are always guaranteed.

“It cannot get better anywhere,” he told the delegates.

Buhari 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 of the economy.

According the President, among other steps being taken to attain enabling atmosphere for investments are 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.

Others are enhancement of 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 Information Technology (IT), automation, and entrenching performance management.

The president noted that increasing production capacity of refineries, improving stakeholders’ 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.

These measures would open up the oil and gas sector to competitiveness, Buhari added.

Chief Timipre Sylva, Minister of State for Petroleum Resources, in his remarks, also said the Summit was one of those initiatives approved three years ago.

The conference has garnered global acceptability within a short period, he said.

He said that the attendance from the African continent and other countries of the world in the first and second editions attested to the fact that the 3rd edition would definitely raise the bar.

With over 45 countries being represented at the summit, Chief Sylva commended President Muhammadu Buhari-led administration for its support to Nigeria’s oil and gas sector and helping it to take its place in the global energy space.

“Since this administration came on board, you have demonstrated through personal example and conduct that whenever there is a will, there will always be a way.

“This is reflected in the enthronement of discipline, transparency, and efficiency in the overall management of the oil and gas sector.

“This has also propelled your appointees to toe the line of probity and accountability by ensuring that your agenda, especially for the oil and gas sector is achieved,’’ he said.

He commended all delegates and participants, adding that NIPS remained a Pan-African summit that must be sustained.

He noted that NIPS was designed as a meeting point in the oil and gas industry to introduce and harness new technologies and ideas.

This, he said would lead to the development of new strategies that would attract and enhance the inflow of foreign investments while improving success rates of indigenous business engagements.

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