The French Government says it has set aside about one billion euros to be invested in Nigeria’s Oil and Gas industry.
France Ambassador to Nigeria, Mr Denys Gauer, who disclosed this on Tuesday, said Nigeria remains his country’s first economic trading partner in Africa.
He made the announcement at his office in Abuja where he received a delegation from the Nigerian National Petroleum Corporation (NNPC).
Mr Gauer revealed that the French Development Agency has put in place about one billion euros to encourage French investors to invest in the Nigeria Oil and Gas sector., adding that the French Government is also cooperating with the Federal Government in the fight against Boko Haram insurgency.
According to a statement from the leader of the delegation and Group General Manager, Group Public Affairs Division of the NNPC, Mr Ndu Ughamadu, the French Government was also cooperating with the Federal Government in the fight against Boko Haram insurgency.
The French Ambassador commended the Federal Government for stemming the insecurity situation in the Niger Delta, noting that Total, a French multinational oil and gas company, 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 sector, hinting that some French investors were currently developing wind and solar energy in Katsina State.
Earlier, Mr Ughamadu noted that NNPC, under the current management led by the Group Managing Director, Dr. Maikanti Baru, was well positioned and open to investment opportunities from the French Government and investors.
He thanked the Ambassador for the warm reception accorded the NNPC delegation and assured him of the Corporation’s resolve to develop a robust business atmosphere for investors in Nigeria.
Source: Channels TV News
