French oil giant TotalEnergies has announced plans to invest $750 million in a Liquefied Natural Gas (LNG) project in Nigeria in 2025. The company’s Senior Vice President for Africa, Mike Sangster, disclosed this during the France-Nigeria Business Forum in Paris on Friday.

He explained that the project, a shallow water initiative known as Ima, is aimed at boosting gas supply to TotalEnergies’ LNG facility.

Sangster emphasized that the $750 million investment would also support the revival of Nigeria’s hydrocarbon production.

“We have another dry gas project called Ima which we hope to sanction next year for about $750 million,” Sangster stated.

Earlier this year, TotalEnergies unveiled a similar initiative, the Ubeta onshore gas field, which has an output capacity of 300 million cubic feet per day of LNG. The Ubeta project, a partnership with the Nigerian National Petroleum Corporation (NNPC) Limited, is valued at $500 million.

Speaking further, the vice president urged a relaxation of local content regulations to encourage the return of international contractors specializing in deep-water projects. He noted that this move could stimulate competition and unlock investments currently on hold.

However, he commended the government’s efforts in implementing certain reforms over the years. According to him, the incentives introduced have motivated TotalEnergies to consider further investments in Nigeria and work towards halting the decline in oil and gas production.

“There’s still more to be done in terms of regulation, simplifying, and accelerating the process, but we have appreciated some of the changes that have been made over the past year.
“However, they have given us now the incentive or the motivation to go ahead and renew our investments in Nigeria so that we can stop the decline and start to increase production,” Sangster added.

cjudy:
Lamba

Flangelo12:


Total na your mate?

cjudy:

I don’t fall for propaganda or audio investment

PressMyButton:
You want Nigeria, the giant of Africa, to ditch France just because some mushrooms desert countries as Mali, Chad, Burkina, Niger, Senegal are cutting ties with France?. Can any of these poorest, desert country or all of them combined sink in a $750million investment in Nigeria?. Countries that jihadists are still giving wotowoto despite being ruled by military dictators. Since military takeovers, the lives of their average citizens have not changed a bit.


Tinubu has set an target of $10billion investment in gas sector, two key executive bills has been signed to enhance efficiency in the sector to attract both local and foreign investors.

After God, na Tinubu 💪 God bless Nigeria.

PressMyButton:
You want Nigeria, the giant of Africa, to ditch France just because some mushrooms desert countries as Mali, Chad, Burkina, Niger, Senegal are cutting ties with France?. Can any of these poorest, desert countries or all of them combined sink in a $750million investment in Nigeria?. Countries that jihadists are still giving wotowoto despite being ruled by military dictators. Since military takeovers, the lives of their average citizens have not changed a bit.

Tinubu has set a target of $10billion investment in gas sector, two key executive bills has been signed to enhance efficiency in the sector to attract both local and foreign investors.

After God, na Tinubu 💪 God bless Nigeria.

Flangelo12:


Only the one from Nnamdi Kanu.


Jubril and ear things.

datola:
The same Total Energy that took $Billions investment to another African country the other day saying Nigeria is not a serious country.

Justnation:
This is why they were giving tinubu the fond fooling attention in the name of presidential welcome party. To eat jollof rice and salad, see Paris and sale NIGERIA

$750million will be mentioned on paper at the end of the day they will not bring in up to $50million, the rest $700million will be mined from Nigeria, for the development of our slave masters.

Our leaders should wake up. SENEGAL, NIGER, MALI, BURKINA FASO etc has woken up from slumber and taken their destiny into their own hands.

iLoveYouToo:
We need more FDI. This could boost our economy and encourage others to invest here.

lexy2014:


so if you dont get FDI, you cant boost your economy on your own?

how have nigerians in nigeria been encouraged to invest in nigeria?

PressMyButton:
You want Nigeria, the giant of Africa, to ditch France just because some mushrooms desert countries as Mali, Chad, Burkina, Niger, Senegal are cutting ties with France?. Can any of these poorest, desert countries or all of them combined sink in a $750million investment in Nigeria?. Countries that jihadists are still giving wotowoto despite being ruled by military dictators. Since military takeovers, the lives of their average citizens have not changed a bit.

Tinubu has set a target of $10billion investment in gas sector, two key executive bills has been signed to enhance efficiency in the sector to attract both local and foreign investors.

After God, na Tinubu 💪 God bless Nigeria.

simpleseyi:


Cry well well. Even UK is advertising on CNN for foreign investors

Pawa100:


Hnmmm !!! Is very hard to believe APC Government these days !!!

Since T-Pain came to power na so so Audio investments we just dey hear !!!

simpleseyi:



All these countries that you mentioned, their Economy is not up to Osun State Economy, not to talk of Oyo. No use Ogun compare them at all, not to talk of Kano or Kaduna. Rivers and their father the country inside country Lagos are beyond their dream even when you combine all of them together

cjudy:
Company wey exist una corntree last year wan come invest again.
Make una Dey give una ZoneB false hope atleast nobody will attack Davido again since Investors don’t ignore him and want to invest again in Nigeria.



Lamba