Kachikwu says FG to attract $10bn investments to oil & gas sector


The Minister of State, Petroleum Resources, Dr Emmanuel Kachikwu, has said that the Federal Government will attract more than 10 billion dollars investments to the oil and gas industry in the next five years, Vanguard reports.

Kachikwu said this on Tuesday in Abuja at the ongoing Nigerian Oil and Gas (NOG) Conference. He said that the investments would address challenges facing the oil and gas industry and that the objective was to bridge the infrastructure funding gaps in the Nigerian oil and gas sector.

“We are left with options of bringing in investors that will help address the over $45billion infrastructure deficit. Government wants to be bold enough to take steps that have not been taken before. We have to release our assets to private investors. Either gas pipeline, crude pipeline, the time has come to move from government ownership to private ownership for efficiency,’’ the minister of state said.