Nigeria-China relations are strengthening, as 216 Chinese companies explore investment opportunities in Nigeria, with 74 focusing on the oil and gas sector. This development signals a major boost for the industry.
The Chairman of the House of Representatives Committee on Nigeria-China Relationship, Jaafaru Yakubu, revealed this during a meeting with the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe.
Leading a delegation of committee members to the NUPRC, Yakubu stated that the visit aimed to update the commission’s management on the Federal Government’s ongoing efforts to strengthen trade relations and improve the trade balance between Nigeria and China.
The statement emphasized that the upcoming Nigeria-China Summit will provide a crucial platform for stakeholders from both countries to engage in discussions and explore investment opportunities.
Welcoming the committee, NUPRC Chief Executive Gbenga Komolafe reaffirmed the commission’s commitment to creating an investor-friendly environment. He stressed that, as both a technical and commercial regulator, the NUPRC is implementing policies and regulatory frameworks aimed at attracting significant investments into Nigeria’s upstream petroleum sector.
