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NNPC, South African Investors Pledge to Rehabilitate Petroleum Infrastructure

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ABUJA, August 28, (THEWILL) - Sequel to the visit by the South African High Commissioner, Kingsley Mamabolo last week to seeking economic ties with the Nigerian National Petroleum Corporation (NNPC) in the oil and gas sector, a business delegation from the country has expressed readiness to collaborate with the corporation to deliver cutting-edge technology to help rehabilitate oil and gas pipelines in the country.

Speaking during a working visit to the NNPC Towers in Abuja, leader of the business delegation, Mr. Stephan Mcburger said the visit of the South Africa-based investors was to explore the abundant potentials in the Nigerian petroleum sector.

“We are here to introduce cutting-edge technology that will help rehabilitate 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,” Mcburger said. “We will also help in training Nigerians on the job that will help in sustaining their numerous investments.”

Earlier, Engr. Andrew Yakubu, the group managing director of the corporation, stated the readiness of NNPC to collaborate with investors willing to develop the oil and gas sector. He said the draft Petroleum Industry Bill 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.

Represented by Dr. Peter S. Nmadu, the group executive director corporate services, 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.

“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 Nigerian oil industry,” he said.

“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.”

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.