Nigeria's oil-rich state seeks investment in energy sector

BY  | FROM Xinhua | 2013-04-08 11:16

  ABIA, Nigeria, April 7 (Xinhua) -- Nigeria's oil-rich Abia State is inviting investors from multinational organizations to avail themselves of its business-friendly policies and peace and invest in its oil and gas sector.
  State Commissioner for Petroleum Don Ubani said in the state capital of Umuahia on Sunday that the government had provided enabling environment for investments.
  He said the state government wanted more groups to invest in the critical sectors of the state to reduce the dominance of Shell Petroleum Development Company of Nigeria in petroleum business in the state.
  The commissioner told reporters that the Dutch oil giant had enjoyed monopoly of exploiting oil and gas in the state, noting that it might have been the result of an agreement the defunct Eastern Nigerian government had with the company.
  Ubani lamented that in spite of the liberal policies and regular assurances of the government of cooperation with potential investors, they often go away for one reason or the other.
  He said there were marginal oil fields and possibilities of new fields in the state waiting to be explored and exploited.
  "They are there and if Shell does not want to exploit them, others should," he said.


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