• Tuesday, May 21, 2024
businessday logo


Exxon Mobil pledges to up oil in Nigeria, presidential spokesman says

Exxon Mobil

Exxon Mobil Corp has pledged additional oil production of nearly 40,000 barrels per day from its Nigerian operations in a new investment push in the country, a presidential spokesman said on Tuesday, citing Exxon Mobil president of global upstream operations.

 President Bola Tinubu held talks with Exxon’s Liam Mallon in New York on Monday, ahead of this week’s U.N. General Assembly, in a drive to attract global capital to Africa’s largest economy, presidential spokesperson Ajuri Ngelale said in a statement on Tuesday.

Read also Tinubu departs Nigeria for 78th UNGA

“Nigeria has never been more ready for business than it is now,” the statement quoted President Tinubu as saying.

Tinubu, a former ExxonMobil staff, has mounted an aggressive put to attract more investment into the country, and his government is fighting oil theft in the Niger Delta.

Nigeria will need an increase in oil production in the region of 400,000 barrels a day to realise Tinubu’s goal of growing GDP by 6 per cent