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Published On: Tue, Mar 18th, 2014

Nigeria to generate $100m investment from oil and gas conference

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By Etuka Sunday

The 2014 Nigerian Oil and Gas Conference is expected to generated 100 million dollars investment for the country, the Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Engr. Andrew Yakubu has disclosed yesterday.

Engr. Yakubu who declared the 2014 Nigeria Oil and Gas Conference opened said the 100 million dollars investment is required for expansion of existing capacities.

Yakubu said an estimated 7000 visitors are expected at the Oil and Gas Conference in Abuja, adding that so far about 1,300 delegates had been registered, while 200 exhibition stands had also been registered making it the largest oil and gas conference ever held in the country.

Yakubu who said that the Nigeria oil and gas sector was growing, stressed the need for the passage of Petroleum Industry Bill (PIB) currently before the National Assembly, saying that its passage would guarantee investment confidence and development of local content.

The GMD commended the idea of the conference in Nigeria, saying it has helped in the development of local content, fabrication of facilities, development of modules and engineering designed.

Held under the auspices of the Federal Ministry of Petroleum Resources and NNPC, the Nigeria Oil & Gas continues to be the industry’s must-attend event, attracting participation from both local and international key decision makers and featuring distinguished speakers, participating companies and exhibitors from the entire oil and gas value chain.

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