RMAFC woos Chinese investors for Nigeria’s oil sector

Nigeria’s Revenue Mobilisation Allocation and Fiscal Commission is preparing to take the country’s oil and gas investment pitch to China, with a summit tentatively scheduled for the end of November 2026.

The commission has begun consulting government agencies and petroleum-sector stakeholders ahead of the event. The proposed summit will highlight opportunities across the upstream and downstream parts of the industry, with special attention to Nigeria’s substantial gas resources.

Dr Ekene Enefe, chairman of RMAFC’s Investment Monitoring Committee and the federal commissioner representing Anambra State, said the initiative aims to bring more investors into the sector and expand the revenues available for distribution among Nigeria’s three tiers of government. “We looked at the opportunities in the gas sector of the economy and felt that we need to intervene, especially in bringing investors to the sector, both upstream and downstream,” he said.

RMAFC said its committee monitors Federal Government investments in oil and gas and works to ensure the country receives the revenues and accruals due from the industry. The commission said its interventions have included revenue recoveries and penalties against defaulting oil companies. Some of that work relates to obligations under the Petroleum Industry Act, including rules on gas flaring.

The commission has also opened discussions with institutions responsible for trade and investment promotion. It says investment in gas production and downstream activities could help Nigeria unlock more value from its natural resources and strengthen revenue flowing into the Federation Account.

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We looked at the opportunities in the gas sector of the economy and felt that we need to intervene, especially in bringing investors to the sector, both upstream and downstream.