Buhari commissions Pinnacle FZE terminal in Lagos

President Muhammadu Buhari on Saturday commissioned the Pinnacle Oil and Gas FZE Terminal in the Lekki area of Lagos.

In a video message at the inauguration of the terminal, the president said the operations of the facility would ease congestion at the Apapa Port area.

He added that the facility would also reduce the cost of petroleum products distribution to many parts of the country.

Buhari congratulated the Chief Executive Officer of Pinnacle Oil and Gas Limited, Mr. Peter Mbah, for establishing the massive terminal as well as providing jobs for hundreds of Nigerians.

The president described the investment as a demonstration of his administration’s commitment to the transformation of the nation’s economy.

He assured investors of the continued support of the Federal Government in efforts at improving prosperity in the country.

President Buhari said: “The provision of energy security is one of the cardinal points of our administration.

“We recognised that seamless supply and distribution of petroleum products is challenged by infrastructure deficit and complicated by the congestion at the Apapa Port area of Lagos.

“We provided targeted support to the energy industry by providing an enabling environment, including regulatory facilitation to ensure investment in critical infrastructure.

“I am happy today that Pinnacle Oil and Gas Ltd. leveraged on the opportunities and established this massive terminal facility.

“The success of our agenda to transform our country is clearly demonstrated by this massive investment and the obvious contributions it has made to our overall economic well-being.”

 

He stressed that the Federal Government would continue to encourage investors to take advantage of ongoing reforms in the oil and gas sector.