Petroleum Africa
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Thursday, October 6, 2016
China is sending a delegation to Nigeria to discuss possible investments in the oil and gas sector. The delegation’s visit follows the signing of a number of MoU’s between the Chinese firms and Nigeria’s state-run firm NNPC.
The MoUs, worth $80 billion, are structured around oil and gas infrastructure, although no specific details were offered.
“We are having a team of over 40 Chinese … visiting Nigeria by the end of this month,” Oil Minister Emmanuel Ibe Kachikwu told reporters.
“I will say we have a one-year period to work on this. We expect that some (investment) will come earlier,” he said, when asked about the MoUs signed earlier this year.
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