President Muhammadu Buhari yesterday maintained that his administration will implement far-reaching reforms to ensure accountability and transparency in the oil and gas industry.
He spoke while hosting senior officials of Chevron led by the company’s President for Africa and Latin America, Mr. Ali Moshiri to a meeting at the Presidential Villa, Abuja.
His administration, he said, has taken a position to effectively address the myriad of challenges in the sector.
The President’s Senior Special Assistant on Media and Publicity, Alhaji Garba Shehu, reported the President as saying in a statement: “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 the late President Umar Yar’Adua to reduce violence in the Niger Delta , President Buhari said that his administration will retain the 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 the 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 Nigeria’s oil and gas sector .
Moshiri said that Chevron, which has 36.7 per cent stake in the West African Gas Pipeline Company Limited, was keen to support Nigeria’s gas sector and provide more electricity to consumers.
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