At London Stock Exchange, Finance Minister, NNPCL GCEO, DMO DG Promote Investment Opportunities In Nigeria

The Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun and the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, are in London, the United Kingdom promoting investment opportunities in Nigeria.

The event titled “Non-Deal Road Show” was held at the London Stock Exchange.

It was organised by the Debt Management Office and also had in attendance the Director General of the DMO, Patience Oniha.

Non-Deal Roadshows enable executives hold discussions with current and potential investors and are carried out to provide public information to investors, including updates on the company’s existing business and vision for the future.

They also involve meeting with key investors to keep them updated on how the company is performing.

The Federal Government is currently considering the sale of some of its assets in the oil and gas sector that will enable it raise revenue to implement it’s programmes while driving greater efficiency in the oil and gas sector

THE WHISTLER had reported that the move is part of measures to raise the much-needed revenue for the administration of President Bola Tinubu and ensure the efficiency of the energy sector.

In a Report prepared by the Policy Advisory Council from the Energy & Natural Resources sub-committees of President Bola Tinubu, the Federal Government is targeting to raise about $4.5bn within the first 18 months of the Tinubu administration through the planned sale of government assets in the oil and gas sector.

To achieve this, the government would constitute a team to evaluate the portfolios in the upstream, midstream and downstream sectors of the energy industry.

The team is also expected to carry out high level valuation, establish a range of consideration as well as commence preliminary engagements with potential buyers and financiers of these assets.

The document also stated that the government would be appointing external investment banker, legal advisor and financial advisor as well as identify and test transaction principles with key buyers.

The team is also expected to engage in bidding and negotiation of price and contract terms, draft Sales of Purchase Agreement (SPA), sign SPA and complete sale of IOC Operated assets.