Skip to main content

#Economy

Nigeria Attracts Infrastructure Investment in Oil and Gas in China

…Signs MOUs with Chinese firms worth over $80 Billion

The Nigerian National Petroleum Corporation, NNPC is excited to announce the outstanding success of its China investor’s roadshow. The Corporation has achieved its bid to bridge the infrastructure funding gaps in the Nigerian oil and gas sector. This comes in the form of a first of its kind road show in China where memorandum of understanding’s (MOU’s) worth over $80billion to be spent on investments in oil and gas infrastructure, pipelines, refineries, power, facility refurbishments and upstream has been signed with Chinese companies.

The Honorable Minister of State for Petroleum Resources and Group Managing Director of NNPC, Dr. Ibe Kachikwu revealed this at the ongoing NNPC China Investors’ Roadshow organized by the Corporation to attract investors in China and the Asian sub region to invest in the Nigerian Oil and Gas sector. The Honorable Minister of State and Group Managing Director of NNPC who is currently visiting China as a Special Envoy of the Nigerian President is leading a team of Top Management of the Corporation and Key Industry Stakeholders to showcase the investment opportunities which abound in the oil and gas value chain in Nigeria to the investors with a view to attracting funding and partnerships that would turn around the sector and place it among the best in the world.

Dr. Kachikwu, while speaking during the plenary of a special Investors’ Roundtable which had in attendance over 200 Chinese investors with key focus on the Oil and Gas Sector reiterated that the roadshow was organized as a follow up to the working visit of His Excellency, President Muhammadu Buhari to China in April, 2016. He further commended the efforts and resolve of the President whose steer and support in ensuring that there is a marked transformation of the oil and gas industry has inspired the management to work towards the institutionalizing of focus, accountability, commitment and transparency at the corporation.

It is worthy to note that with the huge success so far recorded on the roadshow can be attributed to the leverage on Dr. Kachikwu's leadership in the sector and over 30 years of contact in the industry, considering that he has had cause to relate with most of the companies that have indicated interest in investing in Nigeria and these relationships cultivated over the years has also yielded fruits in that the MOUs for most of the companies signifying interest in investing in the country’s oil and gas sector have been signed.  Some of the companies that are involved include NORINCO, CINDA, CNOOC, SINOPEC/ADDAX, ICC-NDRC amongst others.

Additionally the International Cooperation Commission (ICC) of the National Development and Reform Commission (NDRC), in charge of implementing cooperation between Chinese governments, Foreign Governments and organizations have committed to developing an overarching master plan for the Nigerian oil and gas include that will include a detailed feasibility study of current status of existing infrastructure in the industry. They will also develop bankable projects that would attract Chinese investors on this Government-to-Government platform. This initiative would move us to a much more profitable and efficient state. The master plan would form the basis of massive inflow of further investment from Chinese companies into the sector.

At the end of the plenary, Dr. Kachikwu expressed his gratitude to the Chinese Government and investors for the show of support which reflects the growing international confidence in Nigeria's oil and gas sector following major reform which has been overseen under his leadership as both Group Managing Director of NNPC and Minister of State, Petroleum Resources over the last 7 months and also the belief in the government and integrity of President Buhari by foreign governments and investors. Dr. Kachikwu further mentioned that the China Roadshow is the first of many investor roadshows intended for the raising of funds to support the Oil & Gas Infrastructure roadmap. Road shows have been slated for India and the Gulf States.

Comments

Post a Comment

Popular posts from this blog

How Justified Are You.... .

We are saved not by works of righteousness which we have done, but according to his mercy he saved us, by the washing of regeneration and renewing of the Holy Spirit"</strong></em> Total Justification by faith was Martin Luther's great spiritual and theological breakthrough. It did not come easily. He had tried everything from sleeping on hard floors and fasting to climbing a staircase in Rome while kneeling in prayer. Monasteries, disciplines, confessions, masses, absolutions, good works-all proved fruitless. Peace with God eluded him. The thought of the righteousness of God pursued him. He hated the very word "righteousness," which he believed provided a divine mandate to condemn him. Light finally dawned for Luther as he meditated on Romans 1:17, "<em>For therein is the righteousness of God revealed from faith to faith: as it is written, The just shall live by faith</em>." He saw for the first time that the righteousness Paul ha...
Post a Comment
Read more

Something He Was.....

  Once again he's bruised and broken, before he has the chance to explain the words spoken. Misguided and lied to one more time, made him stand up and fight for what's right One door closed as another one opened. The scars will fade from every stroke and cut. He knows what he wants and he knows what he needs. It's not an open heart that will eternally bleed A strong man has grown from something he was He's got places to go and knows where to begin from Blindness has led him to a dead end street, but another avenue appeared at his street With shadows behind him, he looked at what lie ahead He felt renewed strength to dry tears that were shed He brushed off the dirt and reprogrammed his mind With much needed self love, his mind will unwind With a look in the mirror and a smile on his face, his wounds will be healing, his steps retraced. But he's determined to make it and he knows that he can Because the man that he was is now Better
Post a Comment
Read more

Facing Your Giants.......

Now this is not funny but we all face moments like this!"</em></strong> We all will face giants at one time or another in our lives. By giants, I am speaking of what seem to be insurmountable problems and issues. We try to fell these giants, but often they seem to only grow stronger with the passing of time. It could be a giant of fear. Or it might be a giant of some type of personal sin that you fall into again and again. It might be the sin of pride or envy or gluttony or lust or something else. In a related way, your giant might be one of addiction, something that has a grip on your life. Then again, it could be a giant of threat that is taunting you today. Someone has slandered you. A lawsuit has been filed against you. The boss seems to always push you against the wall, people around seems to misjudge and believe the worst of you, your friends believe you are odd cos you don't do what they do or believe what they believe in. Maybe there is even a threat aga...
Post a Comment
Read more