By Milcah Tanimu
The Federal Government of Nigeria is seeking investment from the United Arab Emirates (UAE) to modernize and reconstruct aging oil pipelines across the country. Nigerian officials emphasized the need for these upgrades, noting that many pipelines have surpassed their intended lifespans, dating back over 50 years.
During discussions in Abuja, Minister of State for Petroleum (Oil), Heineken Lokpobiri, highlighted the mutual interest of Nigeria and the UAE in oil exploration. Despite some calls for the abandonment of crude oil drilling, both nations remain committed to this sector.
Lokpobiri outlined the investment opportunities available in Nigeria, particularly in pipeline infrastructure. He assured potential investors from the UAE that the investment models would be attractive, allowing for the recovery of investments through proportional charges on transported crude.
Emphasizing Nigeria’s significant gas reserves, Lokpobiri stated the country’s potential for further exploration and development. He also mentioned ongoing efforts by the government to streamline processes and eliminate bureaucratic barriers to investment.
The UAE ambassador to Nigeria, Salem Al Shamsi, expressed a willingness to address the concerns raised and reaffirmed the longstanding relationship between the two countries. He assured Nigerian officials of the UAE’s commitment to collaboration and meeting the needs of both nations.
The discussions underscored the importance of strategic partnerships in the oil and gas sector, with both Nigeria and the UAE aiming to explore opportunities for sustainable energy production while recognizing the continued relevance of fossil fuels in the global energy landscape.
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