BUSINESS Africa's largest oil summit opens in Nigeria


Africa's largest oil summit opens in Nigeria


19:18, February 20, 2018


President Muhammadu Buhari, represented by the Secretary of the Government of the Federation, Boss Mustapha launched the maiden edition of the Nigeria International Petroleum Summit, NIPS, in Abuja on Monday. photo

The first edition of what is said to be Africa's largest petroleum summit opened in Nigeria's capital Abuja on Monday, with an aim to revive the oil industry in Africa.
Nigeria's oil minister Ibe Kachikwu declared the summit open on behalf of President Muhammadu Buhari, saying Nigeria is willing to provide leadership for Africa in oil and gas.
Kachikwu said the Nigeria International Petroleum Summit was organized with the mission to make it Africa's most important platform and linkage to the world.
The summit features an exhibition of latest petroleum technologies, equipment and investment opportunities by global oil and gas firms.
"It is aimed at engendering potential-economic benefits, generate employment and expand businesses in Nigeria and Africa," Kachikwu said.
Nigeria's petroleum industry is the largest in Africa with proven oil and gas reserves of 37 billion barrels and 192 trillion cubic feet respectively.
Hundreds of delegates from oil and gas multinationals are attending the five-day summit in Abuja.

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