In a recent tweet, Nigerian politician Shehu Sani questioned the investment decisions of French oil giant TotalEnergies, highlighting the company’s recent financial commitments in Angola and the Republic of Congo over Nigeria.
Sani’s tweet reflects growing concerns over TotalEnergies’ apparent shift in focus away from Nigeria, a country that has been a significant profit center for the company for decades.
Total Energies has recently announced a substantial $6 billion energy project in Angola and a $600 million investment in the Republic of Congo’s oil production and exploration. These decisions come amid Nigeria’s struggle with policy inconsistencies and legislative debates that have reportedly deterred long-term investments.
Patrick Pouyanné, CEO of TotalEnergies, cited Angola’s stable policy framework as a key factor in their investment decision, contrasting it with Nigeria’s unpredictable policymaking environment. The company has not conducted new oil exploration in Nigeria’s Niger Delta for the past 12 years, a region known for its prolific oil reserves.
Sani’s tweet raises questions about TotalEnergies’ gratitude and loyalty to Nigeria, suggesting that the company’s investment choices might be influenced by Nigeria’s political stance towards military regimes in neighboring countries. However, TotalEnergies has not publicly linked its investment strategy to Nigeria’s political actions.……….Sée Moré
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