Approximately 74 Chinese companies have expressed interest in investing in Nigeria’s oil and gas sector, as part of a broader group of 216 Chinese firms aiming to invest across various sectors of the Nigerian economy, according to a statement issued by the Nigerian Upstream Petroleum Regulatory Commission on Monday.
The Chairman of the House Committee on Nigeria-China Relationship, Jaafaru Yakubu revealed that 74 Chinese companies are interested in investing in Nigeria’s oil and gas sector.
He made this statement during a recent meeting with the Chief Executive of the NUPRC, Gbenga Komolafe.
This is part of a larger investment interest from 216 Chinese companies across various sectors of the Nigerian economy.
Yakubu, who led other committee members on the visit to NUPRC, stated that their purpose was to brief the commission’s management 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 expressed interest in investing in Nigeria, with 74 focusing on the oil and gas sector.
“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, signaling a major boost for the sector,” the statement read.
NUPRC Chief Executive, Gbenga Komolafe, welcomed the committee and reaffirmed the commission’s commitment to creating an investor-friendly environment.
