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Petroleum regulatory authority urges Ivorian govt to invest in oil, gas

THE Nigerian Midstream and  Downstream Petroleum Regulatory Authority (NMDPRA) has called on the Ivorian government to explore investment opportunities in Nigeria’s oil and gas sector.

The Authority’s Chief Executive, Farouk Ahmed, made the call when he received an Ivorian delegation of the National Bureau of Technical Studies and Development (BNEDTD).

Ahmed said in a statement released on Saturday that the strategic goals of the Authority included attracting investment to the industry, expanding oil and gas infrastructure and making Nigeria a regional hub,  while impacting the global market.

He also encouraged the Ivorian government to take advantage of investment opportunities in the Nigerian energy industry made available through the implementation of the Petroleum Industry Act (PIA) to promote economic growth and sustainable development.

According to him, the investment opportunities included supply of liquefied natural gas, propane and butane to Cote d’Ivoire and other ECOWAS countries.

The head of the delegation, Koue Bi Alphonse, who is the Director of Economic Intelligence and Monitoring Evaluation, Ministry of Foreign Affairs, Cote d’Ivoire, said the purpose of the visit was to understudy the operational system in the midstream and downstream sectors with a view to expanding and enhancing areas of cooperation between both countries.

The engagement, according to the statement, gave an insight on the workings of the regulatory institutions in the Nigerian energy sector and explored ways to widen and enhance areas of further cooperation between both countries.

Ahmed further assured the team that the NMDPRA would support and encourage investment in infrastructure, gas refining and transportation.

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