Nigeria Needs Predictable Policies to Boost Oil, Gas Investment
At the ongoing PENGASSAN Energy and Labour Summit in Abuja, Segun Kuteyi, Acting Chairman and Managing Director of Chevron Nigeria Ltd., emphasized the need for policy stability to boost investment in Nigeria's oil and gas industry.
Kuteyi noted that regulatory certainty is crucial to attracting investors, as petroleum projects require huge capital commitments and long-term planning before returns can be realized.
He highlighted that workers, host communities, and governments also benefit from stability, enabling career development, economic opportunities, revenue planning, and sustainable development across the industry.
Kuteyi commended progress under the Petroleum Industry Act (PIA) 2021, stating that collaboration among government, regulators, and industry stakeholders has improved transparency and provided greater clarity for investors and operators.