Nigeria launches new incentives to attract $10b investment in oil, gas sector

.FG appoints 17 Consuls General, Chargé D’affaires

In a move to further revitalise the oil and gas industry’s contribution to the economy, Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, yesterday presided over a signing ceremony in Abuja endorsing the Consolidated Guidelines for the implementation of Fiscal Incentives for the Oil & Gas Sector – a cornerstone of the Presidential Directive aimed at enhancing the oil & gas sector’s global competitiveness.

The Presidential Directives were developed and coordinated by the Special Adviser to the President on Energy, Mrs. Olu Verheijen to ensure a competitive framework for the Nigerian oil & gas industry.

According to Verheijen, the measures have been designed to deliver a competitive Internal Rate of Return (IRR) for Oil & Gas Projects and attract over $10 billion in new investments within the next 12-18 months.

Meanwhile, the Federal Government, yesterday, announced the appointment of 12 Consuls General to some of Nigerian Missions abroad. The appointment also include five new Chargé D’affaires. The Consuls General are, Auwalu Jega Namadina, Atlanta, USA; Nnamdi Okechukwu Nne, Bata, Equatorial Guinea; Francis Ntui Enya, Douala, Cameroon; Gbadebo Afolabi, Shanghai, China and Oludare Ezekiel Folowosele, Hong Kong, China.

Others are Abubakar Jidda, New York, USA; Yakubu Audu Dadu, Frankfurt, Germany and Taofik Obasanjo Coker, Buea, Cameroon.

There are also George Collins Onwuekwe, Guangzhou, China; Umar Ibrahim Bashir, Johannesburg, South Africa; Zayyan Ibrahim, Dubai, UAE; and Muazam Ibrahim Jibrin Nayaya, Jeddah, Saudi Arabia

The Minister of Foreign Affairs, Ambassador Yusuf Tuggar, in a statement signed by his Special Assistant on Media and Communications Strategy, Alkasim Abdulkadir, charged them to be good ambassadors of Nigeria.

Stressing that they are instrumental to the economic drive of President Bola Ahmed Tinubu, he admonished that as seasoned career diplomats, they should shun the act of politicking and recommit themselves to their duty of diplomacy for the collective interest and development of Nigeria.

Responding on behalf of the new appointees, the newly appointed Consul General to New York, Ambassador Abubakar Jidda, reassured Nigerians of their commitment to the ethos of the profession. He also pledged the resolve of the new appointees to bring the much-needed investments to Nigeria.

He also commended Mr President and the leadership of the Ministry of Foreign Affairs for the confidence reposed in them.

The new appointment takes immediate effect.

Following the recall of ambassadors in the wake of President Tinubu’s administration, Nigerians have been waiting anxiously for the Federal Government to appoint new ambassadors to the nation’s missions abroad.