Buhari inaugurates $1b fuel storage terminal in Lekki

President Muhammadu Buhari yesterday launched Phase One of the 1.1 billion liters fuel storage terminal built by Pinnacle Oil and Gas Limited Petroleum in the LFTZ, Ibeju-Lekki axis of Lagos.

The President and Lagos State governor, Babajide Sanwo- Olu, at the launch, called on investors to take advantage of the Lekki Free Trade Zone to invest massively in all sectors of the economy.

President Buhari, who joined the ceremony virtually, said his government would continue to support investments in the oil industry and other sectors of the economy.

He, therefore, urged more investors to take the leap just like Pinnacle Oil and Gas and invest in the country.

He stated that the vision for energy security remains one of the cardinal points of his government’s agenda, adding that an enabling environment, including a regulatory framework, has been put in place to fast-track investments.

The President said it was a good thing that Pinnacle Oil and Gas leveraged the enabling environment to build the largest petroleum products terminal in the Lekki Free Trade Zone.

By the single major investment, he pointed out that traffic jams associated with Apapa Port will be a thing of the past, adding that the facility will help in easing petroleum products’ distribution in the country.

“We will continue to encourage more investors. We look forward to many more investments,” the president said



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