Biobaku: Oil sector reforms signal Nigeria ready to move investments forward
Senior Partner at Gbenga Biobaku & Co, Gbenga Biobaku says Nigeria's Petroleum Industry Act as well as recent executive orders signal to investors Nigeria is ready to move investments forward. In a chat with CNBC Africa's Kenneth Igbomor, he notes the outlook for the future looks promising with increased participation of indigenous companies in the sector with the approval of the Mobil-Seplat , Renaissance-Shell, and the Equinor-Chappal transactions.
Tue, 18 Mar 2025 11:55:27 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- Nigeria's Petroleum Industry Act and recent executive orders signal a positive investment environment
- Increased participation of indigenous companies through transactions like Mobil-Seplat and Equinor-Chappal
- Promising outlook for Nigeria's oil sector with opportunities for local and international investors
Nigeria's oil sector is gearing up for significant growth as recent reforms and transactions signal a favorable environment for investments. Gbenga Biobaku, Senior Partner at Gbenga Biobaku & Co, highlighted the positive outlook for the future during an interview with CNBC Africa's Kenneth Igbomor. Biobaku emphasized that Nigeria's Petroleum Industry Act and recent executive orders demonstrate the country's readiness to propel investments forward. The increased participation of indigenous companies in the sector, with the approval of transactions like Mobil-Seplat, Renaissance-Shell, and Equinor-Chappal, further strengthens Nigeria's position in the global oil market. These developments present promising opportunities for both local and international investors looking to tap into Nigeria's thriving oil industry. As the nation continues to implement reforms and attract investments, the oil sector is poised for sustainable growth and development.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.
