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Tinubu To Exxonmobil: Executive Orders On Oil/gas Reforms’ll Make Nigeria Globally Competitive
President Bola Tinubu has said the three Executive Orders on oil and gas reforms, which he signed, would make Nigeria’s petroleum sector globally competitive.
According to a statement by his spokesman, Ajuri Ngelale, the President made the affirmation during a meeting with a delegation from ExxonMobil Upstream Company, led by its President, Liam Mallon.
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He emphasized that the reforms would ensure that no oil company faced undue challenges in the country. The three Executive Orders, which became effective from February 28, 2024, were: Oil and Gas Companies (Tax Incentives, Exemption, Remission, etc.) Order, 2024; Presidential Directive on Local Content Compliance Requirements, 2024; and the Presidential Directive on Reduction of Petroleum Sector Contracting Costs and Timelines.
Tinubu also assured the ExxonMobil delegation that the federal government was committed to resolving the divestment issues between the company and Seplat Energy, which are currently under litigation.
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