May 26, 2024

US sets to provide funds, technical support for Nigeria’s oil, gas upstream sector


Olubunmi Martins

The United States Trade and Development Agency (USTDA) has offered to support the technical competence of Nigeria’s oil exploration, including provision of funds for critical oil and gas infrastructure in key areas of the upstream sector.

This was disclosed by Heather K. Lanigan, Regional Director Sub-Saharan Africa, during a courtesy meeting of the agency with its Nigerian counterpart, The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in Abuja.

Chief Executive NUPRC Engr. Gbenga Komolafe FNSE at the meeting, explained the role of the regulatory commission as a ‘Business Enabler’ for Upstream development in Nigeria stressing that, Nigeria’s huge hydrocarbon resource require critical infrastructure, the development of technical competence and a more robust Foreign Direct Investment.

The meeting between the two agencies is part of an ongoing dialogue between the Nigerian government and the United States of America to promote collaboration in areas of mutual interest to both countries.

Heather K. Lanigan , in her remark, highlighted technical expertise development and funding for critical oil and gas infrastructure as the key areas of the upstream sector, This coincides with Nigeria’s current drive for the massive development of its gas resources.

In his reaction, Engr. Komolafe thanked the delegation for the visit and reassured USTDA of NUPRC’s support and collaboration towards the sustainable development of Nigeria’s huge oil and gas resources in the overriding interest of all stakeholders.

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