NNPC Holds Road-Show In China To Attract Investments

Ibe-Kachikwu

The Nigeria National Petroleum Corporation, NNPC, has kicked off a road-show in the Chinese capital, Beijing aimed at attracting investments into the nation’s oil and gas industry.

Ibe Kachikwu, Minister of State for Petroleum, during the event described Nigeria as a reservoir of natural resources waiting to be tapped, urging Chinese investors to join their counterparts around the world who have invested in Nigeria and were doing well.

Kachikwu who also signed an agreement worth $30 million, stated that Nigeria was the preferred investor’s destination because of its liberal policies and quick returns on investment.

Anibor Kragha, a top NNPC official who presented the areas of investments to the businessmen, described Nigeria’s oil company as the biggest investment in the African continent. He assured the businessmen of a friendly environment and quick returns on investments in Nigeria’s oil industry

An indigenous investor in the oil industry, Bryant Orjiakor, who also took part in the roadshow, lent his voice to the attraction in the nation’s oil and gas industry.

Orjiakor said Nigeria’s oil and gas sector was a major platform on which the country aims to expand its economy, adding that the country’s population was an advantage for quick yields on investment.

Nigeria is targeting about $15 billion dollars foreign investment from China and the Gulf States to replace and expand ageing infrastructure in the oil industry.