Buhari, Kyari Showcase Nigeria’s Oil & Gas Investment Opportunities in Spain

The Chief Executive Officer and Group Managing Director of the Nigeria National Petroleum Corporation Ltd, NNPC, Mele Kyari, has reaffirmed the government’s commitment to sustaining the strategic energy partnership between Nigeria and Spain.

Kyari said this while addressing the Nigerian and Spanish business leaders on investment opportunities in Nigeria’s Oil and Gas Industry, in Madrid, during President Muhammadu Buhari’s State Visit to Spain.

A statement by Mr Garba Muhammad, Group General Manager, Group Public Affairs Division, NNPC Ltd. said Kyari stated this on the side-lines of President Muhammadu Buhari’s state visit to Spain.

President Buhari had earlier met with the Spanish President, Pedro Sanchez, King of Spain, King Filipe VI, and gave a speech at the headquarters of the World Tourism Organisation (WTO), in Madrid.

During the visit, President Buhari said Nigeria looked forward to increasing bilateral relations with Spain, even as he signed bilateral agreements and Memorandum of Understanding (MoUs) with the Spanish, covering areas of prisoner transfer, sports, culture and the economy.

Describing the partnership as an important one for the NNPC, Kyari said 26 percent of all Liquefied Natural Gas (LNG) and 14 percent of all Crude Oil produced in Nigeria ended up in Spain.

Kyari further explained that the world would need energy for today and the future in industries such as power, IT, automobile and more.

He noted that in line with global acceptance of gas, as a transition fuel, Nigeria has since declared 2021-2030 as the decade of gas.

“In our country today, we have a legislation that has clearly created a commercial National Oil Company which will be unveiled by our President in the coming days.

“Together with the Spanish business community, I am confident we can build this industry,” Kyari said.

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