ABUJA, Mar. 11 (AGCNewsNet) – About 74 Chinese companies have expressed interest in investing in Nigeria’s oil and gas sector, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said on Monday.

In a statement, the NUPRC said the firms are part of a larger group of 216 Chinese companies looking to invest in various sectors of the Nigerian economy. The disclosure was made during a recent meeting between the Chairman of the House of Representatives Committee on Nigeria-China Relations, Jaafaru Yakubu, and NUPRC Chief Executive Gbenga Komolafe.

Yakubu, who led a delegation from the committee to the NUPRC, said the visit was to brief the regulator on the Federal Government’s efforts to enhance trade relations with China.

“Following the recent signing of the Nigeria-China Relationship 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,” the statement said.

It added that one of the key initiatives driving this engagement is the upcoming Nigeria-China Summit, where stakeholders from both nations will explore investment opportunities.

Komolafe welcomed the delegation and reaffirmed NUPRC’s commitment to fostering an investor-friendly environment.

“As a technical and commercial regulator, the commission is implementing policies and regulatory frameworks that will continue to attract substantial investments into Nigeria’s upstream petroleum industry,” he said.

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