Nigeria Welcomes Chinese Investors For $5.5 Billion Oil Deal

Nigeria Welcomes Chinese Investors For $5.5 Billion Oil Deal

10 Chinese investors are expected to arrive Abuja today to hold discussions on the $5.5 billion investments in the oil and gas sector. The delegation will comprise officials of China North Industries Corporation (NORINCO) and Tiger Jade, the investment arm of NORINCO.

Their visit, it was learnt, is a follow-up to the roadshow embarked upon by the Minister of State for Petroleum, Dr. Ibe Kachikwu, in China last June when he signed Memorandums of Understanding (MoUs) to the tune of $75 billion with numerous Chinese firms interested in investing in infrastructure projects in Nigeria’s oil and gas sector.

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