A total of 74 Chinese companies have expressed interest in investing in Nigeria’s oil and gas industry, forming part of a larger group of 216 Chinese firms interested in various sectors of Nigeria’s economy, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Jaafaru Yakubu, Chairman of the House of Representatives Committee on Nigeria-China Relations, disclosed this development during a meeting with the Chief Executive of the NUPRC, Gbenga Komolafe. Yakubu stated that the visit was to brief the commission on the Federal Government’s ongoing efforts to enhance trade balance between Nigeria and China.
“Following the recent signing of the Nigeria-China Relationship Agreement, 216 Chinese companies have expressed interest in investing in Nigeria, with 74 specifically focused on the oil and gas industry. This signals a major boost for the sector,” Yakubu revealed.
One of the key initiatives supporting this engagement is the upcoming Nigeria-China Summit, which will serve as a platform for stakeholders from both nations to explore investment opportunities.
In response, Komolafe reaffirmed NUPRC’s commitment to creating an investor-friendly environment, emphasizing the commission’s role in implementing policies and regulations to attract substantial investments into Nigeria’s upstream petroleum industry.
Source: Punch NG
