The meeting between ExxonMobil staff and Nigeria’s Vice President Kashim Shettima in 2024 marked a major milestone in the country’s deepwater oil investment sector. The announcement of a $10 billion investment in the country’s deepwater oil operations demonstrates confidence in the government’s economic reforms and investment-friendly policies.
In parallel, international shipping company DP World has also announced plans to develop a multi-billion dollar port project in Nigeria. These initiatives demonstrate the country’s growing attractiveness for major investments and the economic potential it represents.
In addition, at the 79th session of the United Nations General Assembly, the Nigerian government secured a $600,000 relief fund and commitments from the Bill and Melinda Gates Foundation to accelerate flood relief efforts, as well as health and agriculture sector reforms.
Specifically, the Foundation allocated $600,000 for flood relief in Borno State and other health sector initiatives, with an additional $5 million grant approved for the Lagos Business School and partners to develop the agricultural economy of industrial cassava production.
The meeting provided an opportunity for Vice President Shettima to reaffirm the government’s commitment to health, nutrition and agricultural development, emphasizing the critical importance of these areas to the country. Emphasis was placed on the desire to address the malnutrition crisis and promote food security through innovative programs such as the Telemaze program.
Furthermore, digital transformation was highlighted as a key lever to revolutionize public services and boost economic development. Collaboration with partners such as the Gates Foundation was hailed as essential to achieve these ambitious goals and improve the quality of life of all Nigerians.
In conclusion, these initiatives mark a significant step forward in the field of investment and development in Nigeria. The collaboration between public actors and private partners shows a common desire to promote economic growth, public health and sustainable agriculture in the country.