Bukola Afeni
Editor
The Federal Government says it will support the decision of the African Petroleum Producers’ Organisation (APPO) to site the headquarters of the African Energy Investment Corporation in Abuja.
President Muhmadu Buhari made the disclosure in a statement signed by Garba Shehu, the Senior Special Assistant to the President on (Media & Publicity).
President Buhari also gave assurance that Nigeria will pay for its share of subscription, at a meeting with Dr Omar Farouk, the Secretary General of the organization.
The President explained that the growing clamour for a reduction in the use of fossil fuels notwithstanding, countries like Nigeria need to produce more oil to feed the petro-chemical industry and create jobs.
“The peculiarities of the challenges facing African oil producers required them to come together under the association to share experiences and solve their problems collectively.
Am urging the Organisation of Petroleum Exporting Countries (OPEC) to consider the weight of the responsibility of the nation with 200 million people, with severe deficit in infrastructure when sharing oil production cuts.
The Minister of State, Petroleum Resources, Timipre Sylva noted that the proposed APPO Energy Investment Corporation to be sited in Abuja will start with USD 1 billion from the AFRO-EXIM Bank.
The Secretary General of APPO who was accompanied by Dr Adedapo Odulaji, the OPEC Governor in Nigeria, conveyed the appreciation of both the Congolese President and the Prime Minister for the President’s support in the relocation of the headquarters of the association to its chosen location, Brazzaville, the Congolese capital.
“We hope that members of the 16-member organisation will surmount the challenges posed by COVID-19 as well as that from receding fossil fuel use as a result of the climate change treaties signed by member states
