Buhari, NNPC GMD Set To Unlock Investments In Oil & Gas, Others At Nigeria – Portugal Business Forum

The Federal Government is again seeking to unlock more investments in various sectors of the Nigerian economy at the Nigeria-Portugal Business Forum which begins on Thursday.

The event which is being organised at the sidelines of the state visit of President Muhammadu Buhari to Portugal is expected to unlock fresh investments in critical sectors of the Nigerian economy.

Some of the sectors being targeted by the government are oil and gas, agro business, information and communication technology, manufacturing and processing, renewable, pharmaceuticals and construction.

The President of Portugal,Marcelo Sousa is hosting the event which would also be attended by the Minister of Industry, Trade and Investment, Niyi Adebayo; Nigeria’s Ambassador to Portugal, Alex Kefas; the Minister of State Industry Trade and Investment, Maryam Katagum; the Permanent Secretary in the Ministry, Evelyn Ngige; and the Minister of Foreign Affairs Geoffrey Onyema.

Strategic partners for the conference are the Nigerian National Petroluem Company Ltd, the Nigerian Investment Promotion Commission, Oil and Gas Free Trade Zones Authority, and Ministry of Communication and Digital Economy among others.

The forum is coming at a time when the NNPC is unlocking the potentials of the Nigerian gas sector through the implementation of the Petroluem Industry Act.

The PIA which was signed into law last year by President Muhammadu Buhari has opened up many opportunities for investors in the area of gas.

Nigeria launched its decade of gas in February last year in a move to transition into clean energy and as well eliminate energy poverty, eating up about 40 per cent of its population.
The NNPC is currently deepening natural gas utilisation to reduce energy poverty through the National Gas Expansion Programme and intensifying the use of petrochemicals.

The National Company is also making concerted efforts in the Gas sector through various projects such as NLNG Train 7, AKK, OB3, ELPS and others.

It is also involved in the expansion and integration of domestic/regional power grids and growing the domestic gas markets through Autogas/Compressed Natural Gas/Liquified Petroleum Gas to power vehicles.

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