President Muhammadu Buhari has said that there were indications that the confidence of investors in Nigeria is coming back following good governance by his administration.
The president made this remark on Wednesday during the signing of the contracts for the Front End Engineering Design (FFED) of Train 7 of the Nigeria Liquefied Natural Gas Project.
According to the president’s media aide, Garba Shehu, in a statement issued on Wednesday, the contract was signed by Nigerian Liquefied Natural Gas company (NLNG), the Nigerian National Petroleum Corporation, NNPC, and other Joint Venture partners, Shell, Total and AGIP.
He expressed optimism that the step would culminate in a Final Investment Decision (FID) for the much-awaited multi-billion dollar Train 7 expansion programme by the end of the year.
The president said that the signing of the contract for the plant expansion project after an eight-year delay was a sign of irreversible commitment by the Joint Venture to enter a Final Investment Decision (FID), and a clear indication that the confidence of investors was coming back to Nigeria following the good governance practices instituted by his administration.
He said for instance, the NLNG had the goal of establishing 12 trains by early 1980s but the project growth was stunted.
According to him, so far, only six of those trains had been commissioned.
He said however that with the signature project back on the cards, he strongly believed it had been destined for his administration to complete the project.
”This project perfectly keys into the Federal Government’s ‘Economic Recovery and Growth’ agenda.
”It signifies foreign investors’ confidence in our country’s economy,” the president said.
