In a surprising turn, QatarEnergy’s CEO, Saad Sherida al-Kaabi, has decided against investing in Nigeria’s oil and gas sector, as reported by Africa Intelligence and other sources, despite President Tinubu’s diplomatic efforts. This decision follows Tinubu’s visit to Qatar earlier this year, during which landmark agreements were signed to enhance cooperation between the two nations.
Despite Nigeria’s assurances of a welcoming environment for investors and ongoing reforms to combat corruption, QatarEnergy cited concerns over the challenging business climate in Nigeria’s Niger Delta. This development underscores the importance of addressing Nigeria’s investment challenges to attract much-needed foreign investment and foster economic growth.
Source: [Africa Intelligence]
