Nigerian Government Seeks Increased Investment from ExxonMobil

The Nigerian government is actively seeking to boost foreign investment, particularly in the oil sector, as highlighted during a meeting between Interior Minister Olubunmi Tunji-Ojo and Jagir Baxi, an official from ExxonMobil. Tunji-Ojo expressed optimism about the potential for increased foreign investment linked to ongoing reforms by the federal government.

He noted that recent policy changes under President Bola Ahmed Tinubu have contributed to improving investor confidence. The minister called for increased investment in offshore oil exploration and assured that the government remains committed to creating a conducive environment for investors.

He commended ExxonMobil for its significant contributions to Nigeria's economy, including an estimated investment of $3.5 billion. Baxi reaffirmed ExxonMobil's long-term commitment to Nigeria and highlighted the company's contributions through tax and royalty payments.

The discussions focused on strengthening collaboration between the government and investors to support economic growth.