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From Isaac Anumihe, Abuja
The federal government is set to hold an investment summit in China as part of efforts to attract Chinese and other international investors into Nigeria’s energy and technology sectors.
The summit, according to the government, will showcase investment opportunities across Nigeria’s upstream, midstream and downstream petroleum sectors and highlight reforms designed to create a more attractive business environment.
Chairman, Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Dr Mohammed Shehu, disclosed this at a breakfast meeting in Abuja recently, saying the event would provide prospective investors with direct access to information on opportunities in Nigeria’s energy industry.
He said the summit would expose investors to ongoing reforms, emerging technologies, financing options and government policies aimed at improving the ease of doing business.
Shehu said the RMAFC would work with relevant government agencies and stakeholders to ensure the success of the initiative without encroaching on their statutory responsibilities.
“Furthermore, the commission would stick to its constitutional mandates and would not intend to delve into other agencies’ statutory mandates. Our (RMAFC) aim is to collaborate with all agencies in order to make the summit a success.”
According to him, Nigeria’s large hydrocarbon reserves, strategic geographical position and youthful population offer significant opportunities for investors, particularly in the energy sector.
However, he stressed that attracting investments at the scale required to transform the sector would depend on stronger collaboration among government institutions, investors, industry operators, financial institutions, host communities and development partners.
“As we are aware, Nigeria is blessed with abundant hydrocarbon resources, a strategic geographic location, and a vibrant population with the capacity to drive innovation and growth. However, unlocking the full potentials of our energy sector requires deliberate collaboration with government institutions, investors, industry operators, financial institutions, host communities, and development partners,” he said.
Shehu said the commission was encouraged by the economic reforms being implemented by President Bola Tinubu’s administration under the Renewed Hope Agenda, which he said were helping to strengthen investor confidence and improve transparency and predictability in the business environment.
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He added that the reforms were part of efforts to position Nigeria as a competitive destination for responsible and sustainable investment.
“These efforts underscore our collective determination to ensure that Nigeria remains competitive in attracting responsible and sustainable investments.”
The China summit is expected to go beyond investment presentations, with organisers planning business-to-business meetings, policy discussions, investment matchmaking sessions, technical exhibitions and networking opportunities.
The engagements are expected to create opportunities for long-term partnerships, expand investment in the energy sector, increase local content participation and generate employment.
The initiative comes as the Federal Government intensifies efforts to attract foreign capital into critical sectors of the economy, particularly energy, where increased investment is considered crucial to expanding production, infrastructure and value addition.
Meanwhile, the Nigerian Navy has assured prospective investors of adequate security in the country’s maritime domain.
The Chief of Naval Staff, Vice Admiral Idi Abbas, represented at the event by Rear Admiral Patrick Effah, said security remained critical to attracting and retaining investment, particularly in the oil and gas industry, which relies heavily on maritime infrastructure.
He said investors would not commit their resources to an environment where their investments could not be adequately protected.
“Be rest assured that Nigerian maritime is safe. We are here to protect our maritime environment,” he said.
The assurance is expected to reinforce the government’s investment drive by addressing concerns around maritime security and the protection of offshore energy assets and other commercial activities.
