A total of 216 Chinese firms recently visited Nigeria to explore investment opportunities, with 74 specifically expressing interest in the country’s oil and gas sector.
According to a statement issued by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Monday, Nigeria’s oil and gas industry continues to attract foreign investors, with a significant portion of Chinese enterprises considering investment in this critical sector.
Chairman of the House of Representatives Committee on Nigeria-China Relations, Jaafaru Yakubu, highlighted this development during a meeting with NUPRC’s Chief Executive, Gbenga Komolafe. Leading a delegation of committee members to the NUPRC, Yakubu emphasized the Federal Government’s ongoing efforts to strengthen trade relations between both nations.
He noted that since the recent signing of the Nigeria-China Relationship Agreement, over 200 Chinese companies have expressed interest in doing business with Nigeria, with 74 of them targeting the oil and gas sector.
“Following the recent signing of the Nigeria-China Relationship Agreement, a total of 216 Chinese companies have expressed interest in investing in Nigeria,” the statement revealed.
“Out of these, 74 companies are specifically focused on the oil and gas industry, signaling a major boost for the sector.”
Nigeria-China Summit: Strengthening Economic Ties
A key factor driving this wave of interest is the highly anticipated Nigeria-China Summit, where representatives from both countries will explore investment opportunities and strengthen economic cooperation. The summit is expected to serve as a platform for fostering bilateral trade and enhancing collaboration in critical industries.
During a recent meeting, NUPRC Chairman Gbenga Komolafe welcomed the House committee and reaffirmed the commission’s dedication to creating a business-friendly environment that supports both international and domestic investors.
As the regulatory body overseeing the upstream petroleum sector’s technical and commercial aspects, Komolafe emphasized the commission’s proactive approach in developing regulations that attract substantial investments.
He stated that the commission’s strategic policies aim to ensure long-term economic growth in Nigeria’s oil and gas sector while maintaining global competitiveness.
