74 Chinese Firms Eye Nigeria’s Oil Sector.
At least 74 Chinese companies have expressed a desire to invest in Nigeria’s oil and gas sector. This development is part of a broader wave of interest, as 216 Chinese companies overall are considering investments across various sectors of the Nigerian economy.
According to a statement released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Monday, this interest was brought to light during a recent meeting between the House of Representatives Committee on Nigeria-China Relationship and the NUPRC Chief Executive, Gbenga Komolafe.
Jaafaru Yakubu, Chairman of the House Committee, led the delegation and explained that the purpose of their visit was to update the NUPRC management on the Federal Government’s initiatives to improve the trade balance between Nigeria and China.
“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, signalling a major boost for the sector,” the statement disclosed.
Source: NEWSCENTRAL
