President Muhammadu Buhari yesterday said his administration will implement far-reaching reforms to boost accountability and transparency in Nigeria’s oil and gas industry.
He spoke during a meeting at the Presidential Villa, Abuja with senior officials of Chevron led by the company’s President for Africa and Latin America, Mr. Ali Moshiri.
His administration, he said, was ready to effectively address the myriad of challenges in the sector.
The president, according to a statement by his Senior Special Assistant on Media and Publicity, Garba Shehu, said: “We understand the situation in the industry and we will do our best to address the challenges affecting exploration, production and distribution of oil products in the country.’’
Acknowledging the merits of the Amnesty Programme initiated by late President Umar Yar’Adua to reduce violence in the Niger Delta region, President Buhari said his administration will build on good aspects of the programme.
He added that his administration will also implement other measures to enhance security in the Niger Delta and optimise investments in Nigeria’s oil and gas industry.
Mr. Moshiri had urged President Buhari to restore the confidence of international investors in the industry.
He identified improved security in the Niger Delta as key to increased investment in the oil and gas sector in Nigeria.
Mr. Moshiri said Chevron which has 36.7 per cent interest in the West African Gas Pipeline Company Limited, was keen to support the country’s gas sector and bring more electricity to the consumers.
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