Over $48bn investment opportunities exist In Nigeria’s oil industry – NNPC vanguardngr.com vanguardnews
In a statement in Abuja, Group Managing Director of the NNPC, Mr. Maikanti Baru stressed that several new frontiers for exploration opportunities abound in Nigeria, noting that offshore discoveries in the country had mostly been limited to between 1,000 – 1,500 meters of water depth.
He, however, stated that unless issues related to leal and regulatory uncertainties, lack of infrastructure, skilled manpower shortage, transparency and accountability are addressed amongst key stakeholders, the continent’s Oil and Gas Industry may not achieve its full potentials. He explained that over 41 billion barrels of oil and 319 trillion cubic feet of gas were yet to be discovered in sub-Saharan Africa alone, while between 2008 and 2017, exploratory success in the sub-region was at least 45%.
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