A total of 216 Chinese companies have expressed interest in investing in Nigeria, with 74 firms specifically targeting opportunities in the oil and gas sector, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The Chairman of the House of Representatives Committee on Nigeria-China Relations, Jaafaru Yakubu, highlighted this development during a meeting with NUPRC Chief Executive Gbenga Komolafe.
He noted that the surge in interest follows the recent signing of the Nigeria-China Relationship Agreement, which aims to enhance economic cooperation between the two nations.
A key factor fueling this investment wave is the upcoming Nigeria-China Summit, where representatives from both countries will explore trade partnerships and investment opportunities.
The summit is expected to serve as a platform for strengthening bilateral ties and fostering economic growth.
During the meeting, Komolafe reaffirmed the NUPRC’s commitment to creating a business-friendly environment that encourages both local and international investments.
He emphasized that the commission is focused on developing and implementing strategic regulations to attract substantial investments, ensuring sustained economic growth and global competitiveness in Nigeria’s oil and gas industry.
With increasing Chinese interest and proactive regulatory measures, Nigeria’s petroleum sector is set to witness a significant boost in foreign investment.