The United States of America's Ambassador to Nigeria, has said that there is no hidden agenda behind his country's decision to stop crude oil purchase from Nigeria.
United States Ambassador to Nigeria, James F. Entwistle
While fielding questions from journalists at the 240th Anniversary of the U.S. Independence in Abuja, 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.
He added that 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.
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,”
The News Agency of Nigeria (NAN) reports that the U.S. had in 2014, stopped the importation of crude oil from Nigeria, a development that was tied to the discovery of Shale oil and gas in commercial quantity in the country.
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