The Federal Government has revealed plans to invest the sum of $13.5 billion in Nigeria’s energy sector within a year.
This was disclosed by President Bola Ahmed Tinubu’s Special Adviser on Energy, Mrs. Olu Verheijen, who said the FG aims for $55.2 billion in opportunities by the year 2030.
Verheijen also emphasized that the President Tinubu-led administration is committed to reforms and growth in the country, particularly in the critical oil and gas sector.
She revealed that her engagements with the stakeholders had shown that there were massive investment opportunities for the oil and gas sector to thrive in Nigeria.
According to her, the administration of Tinubu in line with its “Renewed Hope Agenda”, will always be committed to improving the business and investment climate in the nation, including the energy sector.
“My office has since started work on key areas of reform to spur the growth of the energy sector, and which would also positively impact on the livelihood of the average Nigerian and small businesses,” Verheijen stated.
“Recently, the president approved the Import Duty Waiver aimed at increasing the utilisation and supply of gas in the domestic market.”
The Special Adviser to President Tinubu on energy added that the waiver covers the importation of all equipment related to Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG).
She added that it also covers machinery, equipment and spare parts into the Nigerian market for the utilisation of the country’s gas.
