Nigeria is set to unlock up to $2.5 billion in new oil and gas investments following a presidential directive aimed at reducing the cost and time of finalizing and implementing contracts to develop and expand gas infrastructure.
This development was announced in a statement signed by Olufemi Soneye, Chief Corporate Communications Officer, NNPC Limited, Abuja, on September 17, 2024.
The move is part of the inaugural U.S.-Nigeria Strategic Energy Dialogue, which has been hailed as a strategic and timely initiative by U.S. Assistant Secretary of the State Department’s Bureau of Energy Resources, Geoffrey Pyatt.
“The inaugural U.S.-Nigeria Strategic Energy Dialogue has set the stage for strengthened energy collaboration between the United States and Nigeria,” Pyatt said. “Together, we’re advancing shared energy security, decarbonization, and economic growth goals.”
The Nigerian delegation, led by Minister of State for Petroleum Resources (Gas) Ekperikpe Ekpo, included officials from key petroleum regulatory bodies and NNPC Limited.
The U.S. team comprised representatives from various departments and agencies, including the Bureau of African Affairs, USAID, and the U.S. Department of Energy.
This development is expected to bolster Nigeria’s energy sector and foster greater cooperation between Nigeria and the United States.
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