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Exxon Mobil has pledged new production of nearly 40,000bpd oil production in phase one of a new investment push in Nigeria.
In an audience with the President Bola Tinubu in New York, President of ExxonMobil Global Upstream Operations, Liam Mallon, who led a delegation consisting of the global leadership of an Oil & Gas transnational giant, acknowledged the commitment President Tinubu is bringing to bear on behalf of Nigeria.
Mallon assured the Nigerian leader that he is well placed to reciprocate the President’s efforts stating that the global upstream international operations is growing it production and they are working hard on expanding in deep water production.
“What you told us was that your team would collaborate with us, and that has proven true. We have made significant progress since we last met. We are growing our production, and we are working hard on expanding in the deepwater production. We appreciate your efforts, and we will respond in kind. The time is right. Thank you for your leadership,” the ExxonMobil President stated.
President Tinubu says that following his eminent private sector career as a professional accountant in the oil & gas industry, he has proven his capacity to take difficult decisions as President and he is best prepared to solve problems and crush all bottlenecks standing in the way of new and large-scale capital flowing into Nigeria’s oil & gas industry.
“The knotty issues require direct supervision on my part. Despite many contending obligations, I will sit down and oversee the process of removing these encumbrances to job and wealth creation for the Nigerian people. We know the industry. We grew up in it. We are positioned to solve the problems, and we are pragmatic, and we will solve the problem,” the President firmly assured.
The Nigerian President further stated that Nigeria has never been more ready for business than it is now.
President Tinubu made his position known that “Nigeria is no longer settling for crumbs and leftovers on the investment agenda of the world’s most energy conglomerates.”