{"id":237237,"date":"2025-11-01T05:27:07","date_gmt":"2025-11-01T05:27:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/237237\/"},"modified":"2025-11-01T05:27:07","modified_gmt":"2025-11-01T05:27:07","slug":"tinubus-executive-order-unlocking-growth-in-oil-sector-investor","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/237237\/","title":{"rendered":"Tinubu\u2019s executive order unlocking growth in oil sector &#8211; Investor"},"content":{"rendered":"<p>Chairman of Shoreline Group, Kola Karim, has commended the <a href=\"https:\/\/en.wikipedia.org\/wiki\/Bola_Tinubu\" rel=\"nofollow noopener\" target=\"_blank\">President Bola Ahmed Tinubu<\/a> administration for introducing an executive order that increased the spending limit for operators in the oil and gas sector from $2 million to $10 million.<\/p>\n<p>Karim, who spoke at the ongoing ninth edition of the Future Investment Initiative (FII) in Riyadh, Saudi Arabia, delivered a paper on leadership, energy, and Africa\u2019s development future, highlighting the role of bold policy reforms in unlocking Nigeria\u2019s full oil potential.<\/p>\n<p>He said: \u201cBefore now, $2 million wouldn\u2019t even buy a compressor, which is essential to operate in oil and gas. The problem of Nigeria\u2019s oil and gas industry isn\u2019t about reserves\u2014we have 47 billion barrels of oil and 210 trillion cubic feet of gas\u2014it\u2019s about aging infrastructure.\u201d<\/p>\n<p>According to him, the order has already begun to yield results, allowing companies to import and install much-needed equipment, boosting production and drilling activity. <\/p>\n<p>\u201cThis production growth is not by accident. The executive order has made it easier for operators to invest and get things done. We\u2019re now at about 1.7 million barrels per day, and with the renewed drilling activity, we\u2019ll surpass the 3 million target.\u201d<\/p>\n<p>But Karim believes Nigeria must be more ambitious.<\/p>\n<p>\u201cFor me, the focus shouldn\u2019t be three million. By 2030, Nigeria should target five million barrels per day,\u201d he insisted, comparing Nigeria\u2019s potential to global leaders: \u201cThe U.S. is producing 12.5 million barrels and targeting 15; Saudi Arabia is at 11.5. Ten years ago, the UAE was producing what Nigeria was, 2.5 million barrels, but today, they\u2019re at 4.2.\u201d\n        <\/p>\n","protected":false},"excerpt":{"rendered":"Chairman of Shoreline Group, Kola Karim, has commended the President Bola Ahmed Tinubu administration for introducing an executive&hellip;\n","protected":false},"author":2,"featured_media":237238,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,28337,56,54,55],"class_list":{"0":"post-237237","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-tinubu","11":"tag-uk","12":"tag-united-kingdom","13":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/237237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=237237"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/237237\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/237238"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=237237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=237237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=237237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}