Why We're Investing $6bn Projects in Angola Instead of Nigeria - Total Energies CEO Pouyanne

Date: 20-05-2024 8:22 pm (1 month ago) | Author: kacy lee
- at 20-05-2024 08:22 PM (1 month ago)
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The Chief Executive Officer (CEO) of TotalEnergies, Patrick Pouyanne, has explained why the company is investing a whooping sum of $6 billion in energy projects in Angola over Nigeria.

Pouyanne, who spoke with panellists of the Africa CEO in Kigali, Rwanda, said the inconsistency in policymaking decisions led to the diversion of the project from Nigeria to Angola, a country with a more stable policy framework.

“Nigeria loves to open topics without closing them. You love to debate. There is always a new legislature in Nigeria about a new petroleum law. When you have such permanent debates, it’s difficult for investors looking for long-term structure to know what direction to go.

“In reality, the Niger Delta is the most prolific part of West Africa. But if you look at what happened, because of these debates, there has not been a single exploration in Nigeria for 12 years.

“It’s important to have a debate and then settle it and put a framework on the table that investors can trust.

“We have countries that have perfectly integrated policies like Angola. So, we go to Angola and announced a very large $6 billion projects in the beginning of the week because there their  framework is stable. So we know where we go,”
Pouyanne said.

According to him, investors need the guarantee that their investments are secured and not exposed to violence and demolition.

“What are the challenges? Security comes first. For a CEO like me, security of my people is of utmost important.  Fortunately, we have customs in the Niger Delta to deal with it.


Posted: at 20-05-2024 08:22 PM (1 month ago) | Addicted Hero
- gogoman at 20-05-2024 08:47 PM (1 month ago)
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in everything he pointed out i did not see where Yahoo Boys is the main problem!! because una for EFCC OR NA DSS OR NA POLICE refusing to focus your resources on the main issue the insecurity!!  but all we dey hear is EFCC parade 95 yahoo boys in kogi, in lagos, in aba, in Kano!! GET YOUR PRIORITY RIGHT!!  Roll Eyes Roll Eyes Roll Eyes
Posted: at 20-05-2024 08:47 PM (1 month ago) | Grande Master
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- Obaifa_07032601473 at 20-05-2024 09:42 PM (1 month ago)
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Posted: at 20-05-2024 09:42 PM (1 month ago) | Newbie
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- fineboy77 at 20-05-2024 09:51 PM (1 month ago)
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Quote from: gogoman on 20-05-2024 08:47 PM
in everything he pointed out i did not see where Yahoo Boys is the main problem!! because una for EFCC OR NA DSS OR NA POLICE refusing to focus your resources on the main issue the insecurity!!  but all we dey hear is EFCC parade 95 yahoo boys in kogi, in lagos, in aba, in Kano!! GET YOUR PRIORITY RIGHT!!  Roll Eyes Roll Eyes Roll Eyes
For once, you are correct

Posted: at 20-05-2024 09:51 PM (1 month ago) | Addicted Hero
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- Dopybadass at 21-05-2024 05:28 AM (1 month ago)
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Is so shameful and a big waste to live in Nigeria, that country is doomed in the hands of APC leaders, since the regime of buhari, Nigeria we are managing has never be the same again, but may ogun kill all those useless leaders destroying that country
Posted: at 21-05-2024 05:28 AM (1 month ago) | Gistmaniac
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- kp45 at 21-05-2024 07:13 AM (1 month ago)
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Before nko, who will bring business to a place that will collapse when we have criminals with their yeye policies all over for selfish gain. Nigeria government only look at what will be entering their pocket.
Posted: at 21-05-2024 07:13 AM (1 month ago) | Addicted Hero
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- SweetDaddy1 at 21-05-2024 10:29 AM (1 month ago)
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When you have bandits, terrorists, kidnappers sponsors as political leaders, like Nigeria investors will move their projects to a country with adequate security.
Posted: at 21-05-2024 10:29 AM (1 month ago) | Gistmaniac
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