Nigeria's President Woos Foreign Direct Investment

Top Quote Nigeria's newly elected President, Muhammadu Buhari has re-iterated the countries resolve to be among the Top-20 economies in the world. End Quote
  • (1888PressRelease) August 04, 2015 - The President of the Federal Republic of Nigeria, Muhammadu Buhari, while responding to Foreign Investors in Nigeria, highlighted the resolve of his administration to encourage Foreign Direct Investment inflow in the country's economy. "We will move very quickly to see what we can do to encourage FDI and investors in the country to create jobs for our people", the President said.

    It is therefore apt that the 5th Upstream & Downstream Oil and Gas Exhibition and Conference is coming at this time (22-24 September, 2015) at the Shehu Musa Yar'Adua Centre.

    Capital investment into Africa has hit USD128bn, a year - year and still counting, attracted by disciplined fiscal policies, strong micro-economic growth outlook, improving business environment and abundant natural resources. And Nigeria, no doubt has great potentials with untapped opportunities with an expected GDP growth from NGN84.91trillion in 2014 to NGN156.29trillion in 2019.

    This year's U & D Oil and Gas Expo 2015 is with the theme "Showcasing Nigerian Content with Technological Advancement". The event continues to be the largest indigenous and most-established oil and gas event in West Africa, gathering technical experts, industry leaders, thinkers, investors and Government policy makers to discuss global industry trends, issues and new technologies, as well as present an opportunity for our great country and the sub-region to showcase its strength and opportunities in achieving growth.

    With the Nigerian Content Act 2010 now in place, the Nigerian oil and gas key players are encouraged to take advantage of its advantageous benefits. Dr. Kune Igoni, Director of Event/CEO of West African oil and gas companies are growing and expanding businesses, citing the successful completion of Chevron's Meren gas gathering compression platform; Seven Energy's NGN9billion Uquo gas processing facility in Esit Ekit, Akwa Ibom State; the Nestoil's spread A of the 97km Nember Creek oil pipeline project; as well as the Vabdrezzer Energy's IML-90 field development project, amongst others.

    Dr. Igoni said, with great hopes of international investors trooping into the Nigerian economy and the impressive showing of the country's oil and gas industry, the 5th Upstream & Downstream Trade Show promises to be the gathering of global hydrocarbon key players with contractors, equipment manufacturers, decision and policy makers. According to Dr. Igoni, over USD2billion have been saved since the Nigerian Content Act came into effect; "It is very interesting that Oando Energy Services Limited alone, an indigenous company has invested over $300million in the industry in recent times".

    The Director of Events, further disclosed that, after the successful hosting of four (4) editions of this event , the U & D Expo and Conference has continued to receive commendations from oil and gas companies, high government personnel and diplomatic missions, and is now endorsed by the Department of Petroleum Resources (DPR) , Organization of Petroleum Exporting Countries (OPEC), Nigerian National Petroleum Corporation (NNPC), Petroleum Technology Development Fund (PTDF), National Petroleum Investment Management Services (NAPIMS), South Korean Consulate, Nigeria, Royal Dutch Embassy, Nigeria and other major industry Players and Stakeholders, with keen interest shown by world business and political leaders to participate as Special Resource Persons.

    The event's exhibition segment will showcase equipment, tools, technologies as well as services cutting across geophysical, drilling technologies, seismic data acquisition and offshore and onshore exploration, among others, while the conference segment will discuss a wide range of industry activities, including offshore, onshore and midstream operational activities, with resource presentation by renowned industry players. Plenary sessions focusing on policy and technology updates, panel discussions and case studies led by renowned industry leaders, will also give delegates the opportunity to hear from some of the most influential people in the industry.

    For further inquiry, please contact: +234-8053100096, +234-8036671139, info ( @ ) oilandgasexpos dot com or visit event website: www.oilandgasexpos.com

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