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The Nigerian government on Thursday said ExxonMobil has proposed a $10 billion investment in Nigeria’s deep-water oil operation.

The investment was announced during a high-level meeting between Nigeria’s Vice President Kashim Shettima and the ExxonMobil executives on the sidelines of the ongoing 79th session of the United Nations General Assembly (UNGA) in New York on Wednesday, Stanley Nkwocha, senior special assistant to the president on media and communications, said in a statement on Thursday.

“This potential investment by ExxonMobil aligns perfectly with the President Bola Tinubu administration’s vision for a more investment-friendly Nigeria. We are committed to creating an enabling environment for such transformative projects,” Mr Shettima was quoted as saying in the statement.

According to the statement, Mr Shettima elaborated on Mr Tinubu administration’s efforts in ensuring ease of doing business in Nigeria.

“The Renewed Hope Agenda prioritises ease of doing business. We have launched comprehensive reforms to streamline bureaucratic processes, enhance transparency, and offer fiscal incentives that make Nigeria an attractive destination for global investors,” he said.

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