Nigerian petroleum infrastructure rehabilitation pledged by NNPC and South African investors

ABUJA, NIGERIA – (29.08.12) - Sequel to the visit by the South African High Commissioner, Kingsley Mamabolo last week seeking for economic ties with the Nigerian National Petroleum Corporation, NNPC, in the oil and gas sector, a business delegation from the Country has expressed its readiness to collaborate with the Corporation to bring on board cutting edge technology to help rehabilitate the oil and gas pipelines in the country.

Speaking on Monday during a working visit to the NNPC Towers, Abuja, the leader of the business delegation, Mr. Stephan Mcburger said the visit was to explore the abundant potentials in the Nigerian petroleum sector by the various business investors from South Africa.

“We are here to introduce cutting edge technology that will help in rehabilitating the NNPC oil and gas pipelines that cut across the country and this will also create job opportunities for the army of youths in the country,” Mr. Mcburger revealed.

According to him, the various business investors from South Africa will also help in training Nigerians on the job that will help in sustaining their numerous investments in Nigeria.

Earlier, the Group Managing Director of the Corporation, Engr. Andrew Yakubu stated that the NNPC is ready to collaborate with investors willing to develop the oil and gas sector of the economy stressing that the draft Petroleum Industry Bill forwarded to the National Assembly by the Federal Government for consideration and passage into law would create the enabling environment for investors and bolster investment in the Oil and Gas Industry in Nigeria.

Represented by the Group Executive Director Corporate Services, Dr. Peter S. Nmadu, the GMD averred that the PIB when passed into law would provide a veritable platform for investors from different parts of the globe to invest in the upstream, midstream and downstream sectors of the petroleum industry in the country.

“Certainly at a time like this when critics are expressing uncertainties about the Petroleum Industry Bill, what we are witnessing today is a huge endorsement of the Nigeria Oil Industry. We have a huge delegation of investors from South Africa to discuss with NNPC on potentials of investment in the oil and gas sector. I think this is a positive development because it is a clear testimony to the fact that the PIB is not an impediment to investors as is being touted but a real catalyst for investors,” the GMD informed.

Other members of the delegation include Mr. Lucas Ndala, CEO Royal Bafokeng Holdings; Mr. Mlu Majola, Executive Director of the Company; Mr. Errol Gregor, CEO Mining, Oil and Gas Services and Mr. Arthur Mcwilliams Smith of Uhambo Private Equity Fund. Others include Mr. Zweli Nkosi, non-Executive Chairman, Uhambo Private Equity Fund; Mr. Zam Nkosi; Mr. Ugo Ikemba; and Mr. Miles Oates, all director of Buildit Africa.

Contact Information

Mr. Fidel I. Pepple

For: Group General Manager

Group Public Affairs Division - NNPC, Abuja

contactus@nnpcgroup.com