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    French Oil Giant to Invest $6bn In Nigeria’s Energy Industry

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    The French energy giant TotalEnergies is ready to invest $6 billion (around €5.5 billion) over several years in Nigeria’s energy industry, particularly in gas and offshore projects, the Nigerian presidency has said.

    “We are ready to invest $6 billion over the next few years. We are looking in depth at more opportunities for deepwater and gas production,” said TotalEnergies CEO Patrick Pouyanné, according to a presidential statement.

    On Monday, Head of State Bola Ahmed Tinubu held talks with Mr Pouyanné in Abuja, the capital.

    “Everything is in place. We just need to finalise the adjustments and changes needed to unlock the exceptional potential in oil and gas”, continued Mr Pouyanné, according to the Presidency.

    Nigeria is “very important” for TotalEnergies, which accounts for between 8% and 10% of the group’s total oil production, according to the CEO quoted in the press release.

    For his part, the Nigerian president pledged to “remove all obstacles in the oil and gas industry”. “We are ready to work with you”, he said.

    The oil and gas major indicated that it “has a substantial portfolio of projects that could represent 6 billion dollars of investment over the next few years”.

    Ten days ago, the Nigerian president’s office announced similar commitments from British oil and gas giant Shell, for USD 6 billion in offshore, natural gas and liquefied natural gas (LNG) projects.

    Since his inauguration at the end of May, Bola Ahmed Tinubu has taken a series of economic measures aimed at attracting more foreign investment to this oil-producing country and member of OPEC.

    A law, the Petroleum Industry Bill, adopted in 2021 after years of debate and delays, was already aimed at attracting more foreign investment in the oil sector through changes to regulations, royalties and taxes.

    Nigeria has seen its oil production decline in recent years due to widespread pipeline theft, attacks, high operating costs and red tape, which have deterred investors.

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    Clan Reporters
    Clan Reporters is a Nigerian newspaper founded in 2014 by Paul Omo Okojie, a media consultant, communicator, and entrepreneur. Published in hard copy print format, the newspaper was established to deliver timely news, in-depth reporting, and relevant commentary on issues affecting Nigerian communities, with a focus on politics, society, business, and grassroots affairs. As both the founder and the guiding force behind the newspaper, Paul Omo Okojie also leads OMC Okojie Media Consultants (often shortened to OMC), the media firm responsible for the editorial direction, strategic communications, and overall operations of Clan Reporters. Under his leadership, the newspaper has aimed to blend professional journalism with community engagement, giving voice to local stories and perspectives often overlooked in mainstream media. Okojie’s background in journalism and media consultancy has shaped Clan Reporters into a platform committed to credibility, accountability, and service to its readership. Over the years, the publication has sought to uphold high standards of reporting while fostering informed public discourse in Nigeria.
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