We begin the news, with the Vice President Kashim Shettima welcoming ExxonMobil’s proposed ten billion dollar investment in Nigeria’s deep-water oil operations, describing it as a clear testament to the administration’s economic reforms and investment-friendly policies.

This is coming just as the international maritime giant, DP World, has announced plans to develop a multibillion-dollar port project in Nigeria.

According to the Senior Special Assistant to the President on Media & Communications, Stanley Nkwocha, the Vice President stated this during a high-level meeting with ExxonMobil executives and officials of DP World on the sidelines of the ongoing seventy ninth session of the United Nations General Assembly in New York, United States.

The centerpiece of ExxonMobil’s new strategy is the Owo project, a substantial subsea tie-back that could represent a ten billion dollar investment, as it aims to inject one billion dollar annually into maintenance operations and an additional one point five billion dollar to boost production by fifty thousand barrels per day over the next few years.