The Federal Government has said that more oil and gas projects will commence in the country, after, the signing of over $42bn worth of investment agreement by various Nigerian entities. Minister of State for Petroleum Resources, Chief Timipre Sylva, said at the ongoing 10th Practical Nigeria Content Forum organised by the Nigerian Content Development and Monitoring Board in Yenagoa, Bayelsa State. According to him, "Government expects that with the Petroleum Industry Act now in place and supported by the enabling structures to ease doing business, new Final Investment Decisions should begin to happen rapidly in the Nigerian oil and gas industry. He also said the country needs to embark on new projects in the industry to increase production, grow national revenues, engage the local supply chain in a bid to create employment for Nigerians and promote national security.
The minister further pledged Federal Government's commitment to promote investments in gas as Nigeria's transition fuel which is the basis for Nigeria's Decade of Gas Initiative which was inaugurated by President Muhammadu Buhari in March 2021.
