Nigeria targets 25 billion dollars investments in gas sector

Nigeria targets 25 billion dollars investments in gas sector

The Nigerian National Petroleum Corporation (NNPC) has said that Nigeria’s investment in the gas sector is projected to rise to more than 25 billion dollars between now and 2014.

The NNPC Group Managing Director, Mr. Austen Oniwon said this in statement on Wednesday, while addressing new ambassadors to be credited to other countries at the Ministry of Foreign affairs in Abuja.

Investment friendly environment

Oniwon reiterated the corporation’s commitment to creating the enabling environment for international investors to increase the Gross Domestic Product of the country. 

“I believe our collective effort will make Nigeria a destination of choice for investment in the gas sector given the fact that the aim is to grow the economy with natural gas,’’ Oniwon said.

 He expressed optimism that domestic utilisation and export of gas would put an end to gas flaring, which in turn, would translate to more money into government coffers.

Oniwon also highlighted the investment opportunities in oil exploration, production and refining.

Wooing investors

The Group managing Director urged the ambassadors to woo genuine investors to take advantage of the investment opportunities available in Nigeria, especially in the oil and gas sector.

He described the ambassadors as “cardinal elements” in the process of wooing investors into the country and appealed to them to contact the NNPC for any information on the oil and gas sector.

The Nigerian government has accredited 25 ambassadors to various countries. 

NAN/Williams