The African Energy Chamber, an organisation that uphold a results-focused business environment for companies operating in Africa’s energy industry, is keen to drive deeper investment in Nigeria’s lucrative oil and gas sector.
To this end, the Chamber has endorsed an upcoming event known as the Nigeria International Petroleum Summit (NIPS), which will be held in Abuja from the 27th to the 30th of January, 2019.
The organisation’s members are ready to inject billions of dollars worth of investment capital into Nigeria’s fuel industry.
“Our members, which include the majority of the international oil companies (IOCs), services companies and many African players will be in Nigeria to participate in the summit. The attending investor groups among the chamber’s members represent billions of dollars worth of inbound investments to the Nigerian oil and gas sector,” the Chamber said in a statement issued this week.
The Chamber has described NIPS as one of the best platforms to expand intra-African energy cooperation, promote investments and generate new joint-venture and cooperation opportunities in Africa’s biggest oil producing market.
“Foreign investment into Nigeria’s oil & gas sector is a game changer for Nigerian and African businesses and the economy,” explained Chamber Executive Chairman, NJ Ayuk.
“We continue to be excited by this opportunity because many investors will gain a better understanding of today’s most critical issues, challenges and opportunities facing the Nigerian oil & gas sector at this industry-driven conference. While there is a focus on oil, Nigeria is more of a gas economy and stands to do more with gas,” he said.
“Nigeria has come out of its recession stronger and with a continuous push towards reforming its business environment and remains Africa’s biggest hydrocarbons market. Its ongoing reforms have strengthened its position as Africa’s prime oil & gas investment destination, and the NIPS will be the perfect platform to advance the country and its investors’ business agenda,” Ayuk added.
Nigeria’s Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu affirmed that NIPS 2019 is designed to be Africa’s largest and most important industry platform.
In a message addressed to all participants, the Minister concluded that the event will provide a linkage to the world for engineering and technological breakthroughs, major contract sign offs and side events.