South Africa eyes Nigeria’s petroleum infrastructure projects
02 September 2012
The team led by Stephan Mcburger, said the visit was to explore the abundant potential 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,” he said.
Mcburger said the various business investors from South Africa would also help in training Nigerians on the job that will help in sustaining their numerous investments in Nigeria.The Group Managing Director of the corporation, Andrew Yakubu stated that the NNPC would collaborate with investors willing to develop the oil and gas sector of the economy, stressing that the draft Petroleum Industry Bill (PIB) 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, Peter 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,” he said.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 directors of Buildit Africa.