Stakeholders in oil and gas sector have commended the effort of the Federal Government in securing investments in oil and gas infrastructure, pipelines, refineries, power facility refurbishments and upstream from Chinese companies recently. Speaking in an interview with newsmen in Abuja, Anaele Ukah said that it amounts to the highest single foreign direct investment into the country in the last five years.
It would be recalled that a memorandum of understanding, MoU, worth over $80 billion was signed with the Chinese companies during the road show organised by Nigerian National Petroleum Corporation, NNPC to attract foreign investors into the economy.
Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu, who signed on behalf of the federal government, said that it was the outstanding success of its China investor’s road show.
The NNPC China Investors’ Road show was organized by the Corporation to attract investors in China and the Asian sub region to invest in the Nigerian Oil and Gas sector in its bid to bridge the infrastructure funding gaps in the Nigerian oil and gas sector.
While speaking during the plenary of a special investors’ roundtable, which had in attendance over 200 Chinese investors with key focus on the oil and gas sector Kachikwu reiterated that the road show was organised as a follow up to the working visit of Nigerian President Muhammadu Buhari to China in April, 2016. He further commended the efforts and resolves of the President whose steer and support in ensuring that there is a marked transformation of the oil and gas industry has inspired the management to work towards the institutionalizing of focus, accountability, commitment and transparency at the corporation.
The International Cooperation Commission, ICC, of the National Development and Reform Commission NDRC, in charge of implementing cooperation between Chinese governments, Foreign Governments and organisations have committed to developing an overarching master plan for the Nigerian oil and gas include that will include a detailed feasibility study of current status of existing infrastructure in the industry.
They will also develop bankable projects that would attract Chinese investors on this government-to-government platform. This initiative would move us to a much more profitable and efficient state. The master plan would form the basis of massive inflow of further investment from Chinese companies into the sector.

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