RMAFC Plans China Summit to Draw More Investment into Nigeria’s Oil and Gas Sector
By Victor Idajili
The Revenue Mobilisation Allocation and Fiscal Commission is working to attract fresh investment into Nigeria’s oil and gas industry through a proposed investment summit in China scheduled for later this year.
This was disclosed in a statement signed by Maryam Umar Yusuf, mnipr, Head of Information and Public Relations Unit at RMAFC.
At a stakeholder engagement held in Abuja on Monday, September 7, 2026, the Commission said the summit is designed to boost inflows into the Federation Account by opening up more opportunities in both the upstream and downstream sectors.
The session was led by Dr. Ekene Enefe, Chairman of RMAFC’s Investment Monitoring Committee and Federal Commissioner representing Anambra State. He explained that the committee is charged with monitoring federal government investments in oil and gas and ensuring that Nigeria gets its due revenue from the sector.
Dr. Enefe said the committee has already made progress, including recovering outstanding revenues and enforcing penalties against oil companies that breached provisions of the Petroleum Industry Act, especially on gas flaring.
“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.
He added that RMAFC has begun discussions with the Federal Ministry of Industry, Trade and Investment and the Nigerian Investment Promotion Commission to map out strategies for attracting investors. The Presidency has been briefed and consultations with other relevant agencies are ongoing.
China was chosen as the venue because of its strong presence in global energy and investment. Dr. Enefe noted that the Nigerian High Commission in Beijing has been contacted, and the Nigerian Ambassador has backed the initiative.
A stakeholder breakfast meeting has been fixed for Wednesday, September 9, at Transcorp Hilton, Abuja. Key government agencies in the oil and gas sector are expected to attend for a formal briefing and to contribute ideas. RMAFC also urged ministries and agencies to nominate representatives to serve on the summit planning committee.
The Minister of State for Petroleum Resources, Gas, Rt. Hon. Obongemem Ekperikpe Ekpo, threw his weight behind the plan. He said Nigeria must do more to market its investment opportunities to drive growth.
He stressed the need for better coordination to implement Presidential Executive Orders and the PIA. He also highlighted Nigeria’s gas advantage, with proven reserves of about 215 trillion cubic feet, as a major opportunity to grow the economy, support regional energy needs, and raise the country’s standing in the global energy market.
“The time has come for us to really decide for our nation, work for our nation, put things in the correct perspective,” he stated.
The Minister assured RMAFC of the Ministry’s cooperation and said the Ministry would nominate a representative for the planning committee.
Dr. Enefe said the proposed summit fits into RMAFC’s wider objective of supporting the oil and gas industry, increasing investment, and expanding government revenue.
Also in attendance were Hon. Abdulazeez Idris King, Federal Commissioner for Kogi State, and Hajiya Zainab Larai Adamu, Director of Gas and Investment Department.
