Africa’s largest Crude Oil producer, Nigeria only received 4% of the $70 billion investment inflows into Africa between 2015 – 2019, according to KPMG.
This was disclosed by Timipre Sylva, Nigeria’s Minister of State of Petroleum at the unveiling of the new NNPC Ltd. on Tuesday in Abuja, the Federal Capital Territory.
Sylva described the unveiling of NNPC Ltd. as a new dawn in the quest for the growth and development of the Nigerian oil and gas Industry.
What Sylva is saying
He stated that President Muhammadu Buhari’s administration as President never concealed its desire to create a more conducive environment for the growth of the oil and gas sector and to address legitimate grievances of communities most impacted by extractive industries.
‘‘While the country was waiting for the PIA, Nigeria’s oil and gas industry lost about $50 billion worth of investments.
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