The Managing Director of Energia Limited, Mr Leste Aihevba, has described energy as the yardstick for the growth of any society.
He said the involvement of the oil and gas industry in the development of the country was crucial, noting that the industry had the capacity to boost foreign exchange massively.
“Every growing society needs energy; it is the yardstick for societal growth.  The oil and gas sector contributes a lot to the national foreign exchange,” Aihevba said in Lagos at the unveiling of the company’s new office space in Victoria Island.
“However, there is a huge challenge in terms of relationship with communities, government involvement, and policies. For example, we have been waiting for a new petroleum bill for like five years now; this is a major setback,” he added.
He, therefore, called on the government to create a more conducive environment for investors within and outside the country to be able to further grow the nation’s economy.
“The government must focus on legislation that will improve the business. The business environment must encourage indigenous and foreign investors to keep putting their money in the business,” Aihevba said.