“74 Chinese Companies Set to Invest in Nigeria’s Oil Sector – NUPRC Confirms Major Boost”
http://Chairman of the House of Representatives Committee on Nigeria-China Relationship, Jaafaru Yakubu,The Chairman of the House of Representatives Committee on Nigeria-China Relationship, Jaafaru Yakubu, has revealed that 74 out of 216 Chinese companies interested in investing in Nigeria are focusing on the country’s oil and gas sector.
By Springs News NG | March 11, 2025
During a visit to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Monday, Yakubu stated that the companies’ interest follows the recent signing of the Nigeria-China Relationship Agreement. The committee visited the NUPRC to brief its management on efforts to strengthen trade relations between the two nations.
“Following the agreement, a total of 216 Chinese companies have expressed interest in investing in Nigeria. Out of these, 74 companies are specifically focused on the oil and gas industry, signaling a major boost for the sector,” Yakubu said.
He added that one of the key initiatives driving this interest is the upcoming Nigeria-China Summit, where stakeholders from both countries will discuss investment opportunities.
NUPRC Chief Executive Gbenga Komolafe welcomed the delegation and reaffirmed the commission’s commitment to creating an investor-friendly environment. He assured that the NUPRC is implementing regulatory policies to attract substantial investments into Nigeria’s upstream petroleum sector.
The growing interest of Chinese companies in Nigeria’s oil sector is seen as a positive development that could boost economic growth and enhance trade relations between both nations.
