17 May 2017

Nigeria: Kachikwu in U.S., Discusses Investment Prospects in Nigeria

Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu met with a delegation of the United States Departments of State and Energy in Washington D.C where reforms and investment opportunities in Nigeria were discussed.

The meeting had in attendance Nigerian officials and the US led by Ambassador Mary Bruce Warlick, Acting Special Envoy and Coordinator for International Energy Affairs at the Department of State who commended Nigeria for the significant steps it has taken to reform the oil and gas industry.

Warlick at the meeting which took place during the just concluded Offshore Technology Conference (OTC) applauded Nigeria for reviewing the National Oil, Gas and Fiscal policies as well as the draft Petroleum Industry Governance Bill and Petroleum Industry Fiscal Bill developed by the Ministry of Petroleum Resources.

The envoy stated that Nigeria remained a critical priority for the US in Africa and bilateral relations which are increasingly rooted in the shared values of both nations.

Kachikwu in his response said that Nigeria under President Buhari has clearly set out what it wants to achieve in the oil sector over the next 4 years through the continuous implementation of the 7BigWins.

He added that the ongoing engagement in the Niger Delta and Oil Producing States was yielding results as evidenced by the near zero militant incidence and normalcy in production activity being restored in the region.

Areas of collaboration the minister urged the US to invest in Nigeria include capacity building, and acquisition of technology.

While reiterating that Nigeria's gas vision was to be an attractive gas-based industrial nation, he further clarified that for Nigeria to successfully attract investments and achieve an aspiration of zero routine gas flaring by 2020, the federal government developed a transparent licensing process for allocating and pricing gas flares, improving access to finance for gas flare monetization projects, providing incentives to investors, and strengthening the capacity of government regulatory agencies to monitor implementation of flare down projects.

Nigeria

Govt Traces Biafra's Source of Funding to France

The federal government hinted yesterday that it has traced the financial headquarters of indigenous people of biafra… Read more »

Copyright © 2017 Daily Trust. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 900 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.