France To Invest 1 Billion Euros In Nigeria
The French government has announced its one billion euros investment in Nigeria’s oil and gas industry, to strengthen its economic relations in Africa.
Denys Gauer, France’s Ambassador to Nigeria, revealed this to Ndu Ughamadu, Group General Manager, Group Public Affairs Division, of the Nigerian National Petroleum Corporation, NNPC, during his visit in Abuja.
According to Gauer, France named Nigeria as her first economic trading partner in Africa, as they look forward to investing one billion euros to Nigerian oil and gas sector.
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He also revealed that the French government is cooperating with the Nigerian government in its fight against Boko Haram insurgency in the north eastern part of the country.
Mr. Ughamadu said with the significant drop in pipeline vandalism and other insecurity issues that had dissuaded investments to boost oil production in the industry in the five years, global investors, such as the French Government, could take full advantage of.
He identified possible opportunities to include renewable energy, gas and power infrastructural development, pipeline construction, storage facility and the direct sales and direct purchase of Nigeria crude oil grades.
“The NNPC as the state-owned oil and gas Corporation has global operations. We want closer collaboration between the French Government and the Corporation, especially in the area of consular services, to enable NNPC top executives and staff meet their global engagements,” he said.
