African Chamber promotes energy deals for Nigeria

The African Energy Chamber (AEC) has investors’ attention to exploring huge potentials offered by Nigeria’s oil and gas industry with the passage of the Petroleum Industry Bill

The executive chairman of the African Energy Chamber’s (AEC), Mr NJ Ayuk recently conducted a working visit to Nigeria with a sole mandate to expand cooperation, reaffirm critical energy partnerships, and promote the country as a premier investment destination, backed by the recently passed PIB and the Decade of Gas initiative.

By reiterating the value of the Cape Town-hosted African Energy Week (AEW) 2021 as a platform whereby Nigeria can facilitate impactfully energy deals, market the country’s reformed energy sector and attract both regional and international investor interest, both the AEC and AEW 2021 remain committed to driving investment and associated deals in Nigeria.

Backed by the country’s recently passed Petroleum Industry Bill (PIB), the ‘Decade of Gas’ initiative, and the prioritisation of local content, Ayuk’s visit to Nigeria comprised meetings with industry leaders, including the minister of State for Petroleum Resources, and officials from the Department of Petroleum Resources (DPR); private sector executives; and national oil companies, including representatives from the Nigerian National Petroleum Corporation(NNPC).

As Nigeria promotes the fact that it is officially open for business, AEW 2021 serves as the ideal platform to market the country, uniting international investors with lucrative Nigerian opportunities.

Notably, the visit was aimed to emphasise the role of Nigerian oil and gas developments in a bid to attract international investor interest in new and existing projects.

Through meetings with marginal field producers, the NNPC and the DPR, Ayuk opened a discussion on the role of oil and gas in Africa’s energy transition, drawing attention to the value and competitiveness of African projects.

By showcasing the country’s new and existing oil and gas projects, such as the $2.8 billion, 614km Ajaokuta-Kaduna-Kano pipeline and the $10 billion Nigerian Liquified Natural Gas Train 7 project both Nigeria and AEW 2021 aimed to drive oil and gas-directed investment, expanding Nigeria’s sector and accelerating long-term socio-economic growth.