Nigeria’s Business Climate Healthy for Investments—NNPC

July 8, 2017
Nigeria’s Business Climate Healthy for Investments—NNPC

Nigeria’s Business Climate Healthy for Investments—NNPC

By Modupe Gbadeyanka

Group General Manager in charge of Group Public Affairs at the Nigerian National Petroleum Corporation (NNPC), Mr Ndu Ughamadu, has assured investors, especially those from outside the country, that the business environment in Nigeria was very conducive for investments.

The NNPC spokesman said the present administration has done a lot to provide business-friendly environment for investments to flourish and has as well improved the ease of doing business in the country.

Mr Ughamadu, while addressing the Ambassador of France to Nigeria, Mr Denys Gauer, on June 27, 2017, noted that the agency, under the current management led by the Group Managing Director, Dr Maikanti Baru, was open and transparent for investment.

He said the NNPC, as the state owned oil and gas firm, had global operations and called for closer collaboration between the French government and the corporation, especially in the area of consular services to enable NNPC top executives and staff meet their global engagements.

During the meeting, the French diplomat announced that the French Development Agency (AFD) has committed over €1 billion in Nigeria.

He described Nigeria as France’s first economic trading partner in Africa, commending the Federal Government for stemming the Niger Delta insecurity situation noting that Total, a French multinational oil and gas firm, had significant investment equity in the Nigeria Liquefied Natural Gas Limited (NLNG) and Egina project.

He however, expressed concern that some other French companies were having challenges with the unclear Nigeria’s fiscal policies in the oil and gas sector, revealing that some French investors were currently developing wind energy and solar energy in Katsina State.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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