The Federal Government has revealed that the Nigeria Gas Revaluation Industrial Park hold $10billion worth of investment opportunities.
The Minister of State for Petroleum Resources, Ibe Kachikwu who made this disclosure in his presentation at the China investors’ road-show 2016, on Thursday, June 30, in China, added that there is other opportunity to invest $6 to 8 billion to meet Nigerian Petroleum Development Company (NPDC’s) short term funding needs and Nigerian National Petroleum Corporation (NNPC)’s cash call obligations.
Kachikwu said that the oil and gas sector is strategically important to the country as a whole and is undergoing critical reforms.
He listed areas to develop to include deep sea port, gas processing facility and integrated power solution. Kachikwu said that there is opportunity to invest about $1.4 billion to 1.8 billion in intervention and rehabilitation projects as well as a collocated refinery.
The Minister, 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 road-show was organized as a follow up to the working visit of President Muhammadu Buhari to China in April.
He 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.
