Home » Africa & World Politics, Headlines » Nigeria ‘signs $80bn oil deals with China’

Nigeria ‘signs $80bn oil deals with China’

Nigeria ‘signs $80bn oil deals with China’

Nigeria has signed oil and gas infrastructure agreements worth $80bn (£60m) with Chinese companies, the Reuters news agency quotes the country’s state oil company as saying.

The West African country is one of Africa’s largest oil producers and oil is its main export earner.

But it imports 80% of its fuel and its four refineries have never reached full production because of poor maintenance.

Reuters say Oil Minister Emmanuel Ibe Kachikwu has been in China since Sunday.

President Muhammadu Buhari came to power just over a year ago promising to crack down on the massive corruption within the oil industry.

The sector has also been hit by a resurgence of attacks by militants demanding a greater share of the oil wealth.

-BBC

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Posted by on Jun 30 2016. Filed under Africa & World Politics, Headlines. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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