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Nigeria to partner UK on capacity building for oil sector’s growth


PLANS are underway to open up the possibility of Nigeria partnering United Kingdom for the building of capacity aimed at boosting the growth of the Nigerian oil and gas sector.

The Minister State for Petroleum Resources, Dr. Ibe Kachikwu, disclosed this in Abuja recently when the British Minister of State for Foreign and Commonwealth Affairs, Baroness Joyce Anne Anelay, paid him a courtesy visit.

This comes as Germany has been chosen by the Petroleum Training Development Fund (PTDF) scholarship scheme for the first batch of students in September 2016.

While welcoming the British team, the Minister conveyed President Muhammadu Buhari’s gratitude to the UK saying that Nigeria has a long history of mutually beneficial relationship with the United Kingdom in many sectors, noting that Nigeria has benefited from the inculcation of some skills sets from experts in the UK.

He added that Nigeria has always valued such assistance from Britain.

He hinted that top on his reform agenda for the oil sector in Nigeria is to push for commercialization at a faster rate to attract a much needed Foreign Direct Investment (FDI) as well as creating the right set of incentives to attract investment.

Kachikwu assured the team that where the Ministry lacks capacity, expertise and sufficient regulatory policies, it would seek for assistance. He particularly emphasized that the Ministry needs support from the British Government on capacity building which include provision of services needed in the oil and gas industry.

Earlier, Baroness Anelay, said that this is her first visit to Nigeria and is prompted by her country’s concern that Nigeria fulfills her great potential and harnesses the great entrepreneurial spirit of her citizens for her development. She pledged that the UK will work in collaboration with the government of Nigeria on areas of security, transparency and efficiency.

In a similar development, Dr. Kachikwu has expressed Nigeria’s readiness to deepen her long business relation with Germany.