The Nigerian National Petroleum Corporation (NNPC) has said that its strategy to fund capital intensive projects in the upstream sector of the oil and gas industry has begun yielding fruits with the signing of a Memorandum of Understanding (MoU) with some Chinese companies worth $50 billion for infrastructure development.
The corporation said in a statement in Abuja that the deal was part of recent landmark strides by its management to bridge the infrastructure funding gaps in the Nigerian oil and gas sector.
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