OIL BLOCKS NOW OPENLY AWARDED, SHETTIMA TELLS INVESTORS

Vice President Kashim Shettima has said Nigeria’s oil blocks are now being awarded through an open and competitive process aimed at improving transparency and boosting investor confidence in the country’s petroleum sector.
Shettima made the statement while highlighting reforms in Nigeria’s oil and gas industry and efforts by the Federal Government to create a more predictable environment for investors.
According to the Vice President, the government is focused on strengthening transparency in the allocation of oil assets and ensuring that investors have greater confidence in the process.
He said the reforms were part of wider efforts to attract fresh investment into the petroleum sector, increase production and strengthen Nigeria’s position as a major energy-producing country.
Shettima also stressed the importance of creating an investment environment where businesses can operate with clearer rules and greater certainty.
The Federal Government has continued to promote reforms in the oil and gas sector, including measures aimed at improving regulatory efficiency, attracting investment and increasing domestic oil and gas production.
The Vice President urged investors to take advantage of the opportunities emerging from the reforms and Nigeria’s large oil and gas reserves.