A total of 74 Chinese companies have expressed interest in investing in Nigeria’s oil and gas sector, as part of a broader commitment by 216 Chinese companies to invest across various sectors of Nigeria’s economy. This was disclosed in a statement by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Monday.
Jaafaru Yakubu, Chairman of the House of Representatives Committee on Nigeria-China Relations, made the announcement during a recent visit to the NUPRC. Yakubu, who led a delegation of committee members, met with Gbenga Komolafe, the Chief Executive of NUPRC, to discuss ongoing efforts by the Nigerian government to strengthen trade relations with China.
Yakubu explained that following the signing of the Nigeria-China Relationship Agreement, 216 Chinese companies showed interest in investing in Nigeria, with 74 focusing specifically on the oil and gas industry. This interest signals a significant boost for Nigeria’s petroleum sector.
A key platform for fostering these investment opportunities will be the upcoming Nigeria-China Summit, where stakeholders from both nations will explore collaborative initiatives.
During the meeting, NUPRC Chief Executive Komolafe welcomed the committee and reiterated the commission’s commitment to creating a conducive environment for investors. He emphasized that NUPRC is actively working on implementing policies and regulatory frameworks designed to attract substantial investments into Nigeria’s upstream oil and gas industry.
