Connect with us

Business

President Tinubu signs new executive orders to boost investment in oil and gas sector  

Published

on

tinubuuu

President Bola Tinubu has signed new executive orders aimed at enhancing the investment environment and establishing Nigeria as the top choice for investments in the oil and gas industry across Africa. 

The president issued this policy directive in Abuja extensive engagements with major stakeholders in the sector.  

The spokesperson for the president on media and publicity, Ajuri Ngelale, made this disclosure in a statement on Wednesday.  

According to Ngelale, the directives entail the provision of financial incentives for the development of non-associated gas, midstream operations, and deepwater projects. 

In addition, the initiative focused on optimizing the contracting process to decrease the cycle time to six months. 

According to the statement signed by Ngelale, the President has ordered the special adviser on Energy to continue coordinating the aforementioned stakeholders to ensure the implementation of these directives within a stipulated timeframe. 

Furthermore, Ngelale noted that the details of these Policy Directives will be gazetted and communicated by the Federal Ministry of Information and National Orientation.  

Trending