The African Energy Chamber has proudly announced that the Minister of State for Petroleum Resources of Nigeria, Timipre Sylva, will be leading the investment-focused discussion at the Invest in Africa Energy Reception slated to hold on January 26 in London.
AEC says the participation of Minister Sylva is essential for securing new capital for Nigeria’s rapidly growing market and enabling new players and financiers to expand their footprint in one of Africa’s largest oil producing nations.
Nigeria is one of the most attractive countries for foreign investors owing to the signed law of Petroleum Industry Act in 2021. The act is said to have overtaken some of the country’s regulations and governance, addressing key growth hampers by upholding transparency, and providing favourable fiscal policies for both national and international players.
Through this act, the energy market in Nigeria is more suitable for businesses than it used to be. This act has positioned Nigeria as the biggest oil producer in Africa in 2023 despite the production decline owing to security and reduced rate of exploration.
This dialogue will be a platform for the Nigeria’s Minister to showcase these opportunities in the energy sector to investors at the Invest in African Energy Reception in London.
According to NJ Ayuk, Executive Chairman of the AEC, “Through his participation at the Invest in African Energy Reception in London – taking place in partnership with the African Export-Import Bank and Rystad Energy – Minister Sylva has made clear his commitment to securing new capital for a suite of large-scale projects across the entire energy value chain in Nigeria. During the event, the Minister will be driving market-focused dialogue on why investing in Nigeria is so critical, both for the African economy and for the global energy market at large. The London event provides financiers and energy players with the unique opportunity to directly engage and connect with a leading government representative from the biggest oil producer in Africa, and the AEC is encouraging all of those interested in expanding their footprint in Africa to join us at this high-level event,”