The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has charged foreign investors to consider Nigeria as their investment destination in view of its promising returns.
Baru, who made the appeal at the 10th World Energy Capital Assembly in London, United Kingdom, described Nigeria as one of the best investment destinations in Africa in view of the current efforts by the Nigerian government to improve the nation’s business climate.
He said:“Globally Nigeria has the highest untapped deep water resource of about 10 billion barrels of oil equivalent, in addition to other vast opportunities in the oil and gas value chain.
“Nigeria has the largest and one of the most vibranals, especially in the gas, refining and infrastructure space”, the NNPC boss added.
Represented at the forum by the Group General Manager Corporate Planning & Strategy of the Corporation, Mr Bala Wunti, the NNPC boss while speaking during a panel session titled “Spotlight on Africa”, explained that obstacles to businesses were being removed through reform policies thereby making the country more investment-friendly.
According to him, Nigeria has massive opportunities, very good business climate and good returns on investment.
Baru explained further that as the energy capital of the African continent, Nigeria’s resilience has been tested, with the country going through the booms and the busts and coming out stronger.
He quipped: “With our experience, geographical location and capacity, Nigeria is the country of now and the future.”
The corporation’s GMD said that NNPC had a clear strategy for harnessing these potential through collaboration and building strong partnerships as entrenched in the Corporation’s 12 Business Focus Areas being implemented now.
The World Energy Capital Assembly is a major gathering of energy industry executives and investment professionals that dives and investment professionals that discuss emerging and re-emerging energy investment opportunities, review deals and chart an outlook of energy-related activities on a global scale.
