According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), no fewer than 74 out of 216 Chinese companies exploring investment opportunities in Nigeria have indicated interest in the country’s oil and gas sector.
The disclosure was made by the Chairman of the House of Representatives Committee on Nigeria-China Relationship, Jaafaru Yakubu, during a meeting with NUPRC’s Chief Executive, Gbenga Komolafe. Yakubu, who led other committee members on a visit to the commission, stated that their mission was to update the management on the government’s ongoing efforts to improve trade balance between Nigeria and China.
“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,” Yakubu stated.
The statement further highlighted that one of the key drivers of this engagement is the upcoming Nigeria-China Summit, where stakeholders from both nations will explore various investment opportunities.
In response, Komolafe welcomed the committee and reaffirmed NUPRC’s commitment to creating an investor-friendly environment. He emphasized that through its regulatory activities, the commission is implementing policies and frameworks designed to attract significant investments into Nigeria’s upstream petroleum industry.
