The French government indicated interest in investing one billion euros in the Nigeria Oil and Gas industry.
France Ambassador to Nigeria, His Excellency, Denys Gauer, said that French Development Agency has put in place about one billion Euros to encourage French investors to invest in the Nigeria Oil and Gas sector.
He commended the Federal Government for stemming the Niger Delta insecurity situation 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 said some other French companies were having challenges with the unclear Nigeria’s fiscal policies in the Oil and Gas sector revealing that some French investors were currently developing wind energy and solar energy in Katsina State.
The French government believes that the Corporation 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.
Some of the factors behind the interest for this deal are the significant scale down in pipeline vandalism and insecurity which has boosted oil production, global investors such as the French Government can now invest in renewable energy, gas and power infrastructural development, pipeline construction, storage facility and the direct sales and direct purchase of Nigeria crude oil grades.
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