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TotalEnergies CEO Reveals Why Angola Was Preferred Over Nigeria for $6 Billion Energy Projects

ByOllus NdhomuMay 21, 20241 Mins read26 Views

WRITTEN BY: CHIOMA MADONNA NDUKWU

TotalEnergies has chosen Angola over Nigeria for its $6 billion energy projects due to Angola’s stable policy framework, according to CEO Patrick Pouyanne.

Speaking at the Africa CEO Forum in Kigali, Pouyanne highlighted the inconsistency and prolonged debates in Nigeria’s policy-making, which have deterred investment. Despite the Niger Delta being West Africa’s most productive region, the lack of a stable investment environment has halted oil exploration there for 12 years.

Pouyanne also cited insecurity and a shortage of skilled labor as significant challenges in Nigeria. In contrast, Angola’s integrated policies provide a reliable foundation for long-term investments.

#OMAGIST@AFRICAWORLDNEWS

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