Tinubu seeks deeper partnership with multinationals, speaks on PIA

President Bola Tinubu has pledged continued support for the oil and gas industry, emphasizing his commitment to implementing the Petroleum Industry Act (PIA) and fostering stronger partnerships with multinational companies.

The president spoke when he received a delegation, led by Clay Neff, president of Chevron International Exploration and Production, on Tuesday in Abuja.

President Tinubu’s remarks came through a statement issued by his media aide, Ajuri Ngelale.

He welcomed Chevron’s commitment to build on its investments in shallow and deep water operations in Nigeria, commending the company’s ongoing $1.4 billion drilling project with the Nigerian National Petroleum Company (NNPC) Limited.

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“Nigeria is proud of the 60-year partnership with Chevron, and we believe this partnership will be strengthened to add mutually beneficial value for the benefit of your shareholders as well as the living standards and economic opportunities of our population,” President Tinubu said.

The statement highlighted the government’s intention to “provide the needed interventions” in the oil and gas sector, aligning with the provisions outlined in the PIA.

“’You must see the PIA as a legacy law. We assure you of quick interventions and turnaround on any issue you may have in your operations in our country,” the president further noted.

The statement further alluded to plans for “deepening” partnerships with multinational companies, indicating a potential shift towards increased collaboration within the industry. This approach could signify a focus on leveraging multinationals’ expertise and capital in driving exploration, production, and downstream activities.

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