The U.S. Ambassador to
Nigeria, James Entwistle, has said that there is no hidden agenda behind his
country’s decision to stop crude oil purchase from Nigeria.
Mr. Entwistle said this
while fielding questions from journalists at the 240th Anniversary of the U.S.
Independence in Abuja.
The envoy said the price of
oil was determined by the international market and that the desire of every
business person was to get the best product at the best price.
“There is no conspiracy for
the U.S. not to buy oil from Nigeria.
“Price of oil is determined
by international market and business people go to get the best product for the
best price. That something happened to us with oil.
“But I wish you listened to
my last statement where I talked about the importance of the private sector,
the commitment of the U.S. companies to help build this country (Nigeria),” he
said.
The Minister of State for
Petroleum, Ibe Kachikwu, recently said the U.S. would soon resume the
importation of crude oil from Nigeria.
He said the rekindled
relationship was a direct fallout of President Muhammadu Buhari’s visit to the
US in July this year.
The minister, however, did
not reveal the details of the development but said the U.S. had indicated its
interest in buying “very limited” quantities of Nigeria’s crude.
Mr. Entwistle urged the
Muhammadu Buhari-led government to create an environment that would attract
more foreign investment into the country as a way of revamping the nation’s
economy.
“I am not much of an
economist but I think the government is starting in the right direction.
“Things like fuel subsidy,
exchange rate will continue to create an environment that is welcoming to
foreign investment.
“Some of the biggest U.S.
companies in the world are here, they’ve been here for decades, they are happy.
So it’s better to maintain an environment that will attract more foreign
investment,” he said.
Credit: NAN
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