At Aso Rock, Pinnacle Oil & Gas Boss Recommits to Energy Security FOCUS After the inauguration of Pinnacle Oil & Gas’ massive $1bn FZE Terminal facility in Lekki, Lagos, by President Muhammadu Buhari, late last
After the inauguration of Pinnacle Oil & Gas’ massive $1bn FZE Terminal facility in Lekki, Lagos, by President Muhammadu Buhari, late last year, Peter Mbah, the energy conglomerate’s boss visits Aso Rock to express gratitude and recommit to Nigeria’s energy security, Louis Achi writes
He noted that Pinnacle Oil & Gas has, on its part, invested about $1bn to address the sluggish pace of investment in the downstream sector. “So, we are indeed expecting that more investment in the downstream subsector would completely eliminate the sort of scarcity we are witnessing today,” he told State House correspondents shortly after his company’s board of directors paid a thank-you visit to President Buhari in Aso Rock Villa, Abuja, recently.
Dr. Mbah who explained that Pinnacle’s board and the management team came to appreciate Mr. President and express their deep gratitude for inaugurating the company’s over $1bn product storage terminal in October. Justifiably sharing in the glow of the big-ticket project, President Buhari while noting the investment is emblematic of his administration’s plan to rebuild the country’s economy explained his government expects to make numerous further investments of similar magnitude.
President Buhari also promised his administration would continue to encourage and support investors in utilizing the ongoing changes in the oil and gas sector as outlined in the Petroleum Industry Act to replicate the successes of Pinnacle Oil & Gas Limited.
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