The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has begun preparations for a China-based Oil and Gas Investment Forum aimed at attracting investment into Nigeria’s oil and gas value chain.
The Commission has inaugurated a Planning Committee to coordinate Nigeria’s participation in the forum, scheduled to hold in China later this year.
Chairman of RMAFC, Dr. Mohammed Shehu, represented by the Federal Commissioner for Anambra State and Chairman of the Investment Monitoring Committee, Ekene Enefe, said the forum would provide a platform to showcase Nigeria’s investment opportunities to Chinese investors and strengthen economic cooperation between both countries.
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Speaking at the inaugural meeting of the Planning Committee in Abuja, Shehu charged members to develop a comprehensive framework for the forum, identify priority investment opportunities and coordinate the participation of relevant government institutions and private-sector stakeholders.
He said the committee was also expected to facilitate strategic engagements with prospective investors and partners in China.
Forum Feature
According to him, the forum will feature business-to-business engagements, investment matchmaking, technical presentations and policy dialogue, with the objective of promoting sustainable partnerships in Nigeria’s oil and gas industry.
Shehu said stronger investment in the sector would support revenue generation and contribute to sustainable economic development.
He reaffirmed RMAFC’s commitment to working with relevant institutions within its constitutional mandate to support initiatives capable of strengthening investment and improving government revenue.
The Planning Committee includes representatives of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigerian Investment Promotion Commission (NIPC), Federal Ministry of Industry, Trade and Investment, Oil and Gas Free Zone Authority and the Nigeria-China Business Council.
Also represented on the committee are the Gas and Investment Department of RMAFC and other officials of the Commission.
The initiative comes as Nigeria seeks to deepen international investment in its oil and gas sector and leverage partnerships with global investors to unlock opportunities across the petroleum value chain.
The inauguration of the committee marks the commencement of coordinated preparations for the China investment forum.
