Vice President Kashim Shettima has expressed his approval of ExxonMobil’s proposed $10 billion investment in Nigeria’s deep-water oil operations, citing it as a positive outcome of the administration’s economic reforms and pro-investment policies.
During a meeting with ExxonMobil executives at the 79th Session of the United Nations General Assembly, DP World also announced intentions to develop a multibillion-dollar port project in Nigeria.
Vice President Shettima highlighted the government’s commitment to creating a conducive environment for transformative projects like ExxonMobil’s investment. He emphasized ongoing efforts to improve the ease of doing business in Nigeria through reforms aimed at enhancing transparency and attracting global investors.
ExxonMobil’s Chairman and Managing Director in Nigeria, Shane Harris, reaffirmed the company’s dedication to investing in the country, particularly focusing on deep-water opportunities like the Owo project.
Additionally, DP World’s Chairman & CEO, Ahmed bin Sulayem, disclosed plans for a significant port project in Nigeria during a meeting with Vice President Shettima, commending Nigeria’s market potential and the government’s efforts to attract foreign investments.
Vice President Shettima welcomed DP World’s proposal as a testament to the administration’s commitment to fostering a more investor-friendly environment and assured full government support for foreign investors. Various ministers also attended the meetings to discuss the potential investments and their impact on Nigeria’s economic growth.