President Muhammadu Buhari has welcomed the decision of the African Petroleum Producers’ Organisation (APPO) to site the headquarters of the African Energy Investment Corporation in Abuja.
He has also promised full support of the country in ensuring the successful take-off of the organisation.
According to a statement issued by Garba Shehu, Senior Special Assistant to the President (Media & Publicity), at a meeting with Dr Omar Farouk, a Nigerian, who is the Secretary-General of the organisation at the presidential villa, Abuja on Thursday, President Buhari also gave the assurance that Nigeria will pay for its share subscription.
The President, who received praises for the vision of setting up the APPO and the ratification of its charter by Nigeria back in 1985 as Military Head of State, said 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.
President Buhari said the growing clamour for a reduction in the use of fossil fuels notwithstanding, countries like Nigeria needed to produce more oil to feed the petrochemical industry and create jobs.
On the challenges facing the country amid its large population and immense deficit in infrastructure, President Buhari urged the Organisation of Petroleum Exporting Countries (OPEC) to consider the weight of the responsibility of the nation with “200 million people, with a severe deficit in infrastructure” when sharing oil production cuts.
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