According to a statement from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Monday, around 74 Chinese companies have expressed interest in investing in Nigeria’s oil and gas sector. These firms are among 216 Chinese companies seeking investment opportunities across various sectors of Nigeria’s economy.
The Chairman of the House of Representatives Committee on Nigeria-China Relationship, Jaafaru Yakubu, revealed this during a recent meeting with NUPRC Chief Executive, Gbenga Komolafe.
Leading other committee members on a visit to the NUPRC, Yakubu stated that the purpose of the meeting was to update the commission on the Federal Government’s ongoing efforts to improve trade balance between Nigeria and China.
He stated that following the recent signing of the Nigeria-China Relationship Agreement, 216 Chinese companies have shown interest in investing in Nigeria, with 74 specifically targeting the oil and gas sector.
The statement highlighted that out of the 216 companies, 74 are focused on the oil and gas industry, marking a significant boost for the sector, it added.
One of the key initiatives driving this engagement is the upcoming Nigeria-China Summit, where stakeholders from both countries will discuss investment opportunities.
In his remarks, NUPRC Chief Executive Gbenga Komolafe welcomed the committee and reiterated the commission’s commitment to creating an investor-friendly environment.
Komolafe emphasized that as both a technical and commercial regulator, the NUPRC is implementing policies and regulatory frameworks designed to attract significant investments into Nigeria’s upstream petroleum sector.
