74 Chinese Companies Show Interest To Invest In Nigerias Oil Sector Says Petroleum Commission NUPRC
Yakubu, who led other committee members on a visit to the NUPRC, said they were at the commission to brief its management on the government’s ongoing efforts to enhance trade balance between Nigeria and China.
No fewer than 74 out of the 216 Chinese companies interested in investing in Nigeria have shown interest in the country’s oil sector.
According to a statement issued by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Monday, 216 Chinese companies have expressed interest in investing in various sectors of Nigeria’s economy.
This development was disclosed by the Chairman of the House of Representatives Committee on Nigeria-China Relationship, Jaafaru Yakubu, during a meeting with the Chief Executive of the NUPRC, Gbenga Komolafe.
Yakubu, who led other committee members on a visit to the NUPRC, said they were at the commission to brief its management on the government’s ongoing efforts to enhance trade balance between Nigeria and China.
He revealed that following the recent signing of the Nigeria-China Relationship Agreement, 216 Chinese companies expressed interest in investing in Nigeria, with 74 of them focusing on the oil and gas industry.
“Yakubu revealed that following the recent signing of the Nigeria-China Relationship Agreement, a total of 216 Chinese companies have expressed interest in investing in Nigeria.
“Out of these, 74 companies are specifically focused on the oil and gas industry, signaling a major boost for the sector,” the statement disclosed.
It was also stated that one of the key initiatives driving this engagement is the upcoming Nigeria-China Summit, where stakeholders from both countries would explore investment opportunities.
The NUPRC chief, Komolafe, welcomed the committee and reaffirmed the NUPRC’s commitment to fostering an investor-friendly environment.
This is even as he emphasised that, based on its regulatory activities the commission is implementing policies and regulatory frameworks that will continue to attract substantial investments into Nigeria’s upstream petroleum industry.
