France is planning to invest a billion euros in the Nigerian Oil and Gas industry.
France Ambassador to Nigeria, His Excellency, Denys Gauer, stated this in Abuja when the Group General Manager, Group Public Affairs Division of the Nigeria National Petroleum Corporation, Mr. Ndu Ughamadu, led a delegation to his office.
According to the diplomat, the money will be used to encourage French investors who plan to invest in the Oil and Gas sector.
He also allayed the fears expressed by some French companies who were having challenges with the unclear Nigeria’s fiscal policies in the sector, assuring them that some other French investors were currently developing wind energy and solar energy in Katsina State.
The French Ambassador commended the Federal Government for stemming the Niger Delta insecurity situation, noting that Total, a French multinational oil and gas company, had significant investment equity in the Nigeria Liquefied Natural Gas Limited (NLNG) and Egina project.