'Nigeria has overcome Boko Haram,' President tells investors

Speaking at the 6th African Petroleum Congress and Exhibition in Abuja, Buhari, who was represented by the Vice President, Yemi Osinbajo, assured the investors that their investments are safe in the country.

He said: “I am pleased to announce that as a result of regional cooperation and the doggedness of our armed forces, Nigeria has overcome the security challenges hitherto posed by terrorists and extremists in the northeast.

“Nigeria is therefore ready and accessible for investments from all interested countries, individuals and partners. Let me assure you that your investments are secured in Nigeria and a high return on investment is assured.”

The President further said the that unbundling of the Nigerian National Petroleum Corporation (NNPC) is part of the strategies to reposition the Nigeria’s oil and gas sector. He also announced a daily crude oil production target of 2.8 million barrels per day for country.

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He said his administration has commenced the process of implementing clear-cut initiatives that will enable optimal performance in the sector.

“Some of these include strengthening the institutional framework on policy formulation through legislation on the Petroleum Industry Bill as a prerequisite for the development of the sector and attraction of foreign investment; unbundling the national oil company, that is the Nigeria National Petroleum Corporation into lean, efficient and profitable components, that will operate as a business venture and deploy existing manpower to areas of competences without attendant job losses,” he said.

Buhari urged investors at the exhibition, with the theme ‘Positioning African Petroleum for Global Development and Value Addition,’ consider investing in Nigeria.