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Osinbajo, Wabote Woo US Investors For Nigerian Oil Sector


Vice President, Yemi Osinbanjo

Vice President, Yemi Osinbajo and Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote have urged United States based Information Communication Technology (ICT) companies to invest in the Nigerian oil and gas sector.

A statement by the supervisor, Media and Publicity of NCDMB, Obinna Ezeobi, yesterday quoted the duo as making the call at the Silicon Valley, California, USA while canvassing for foreign direct investment in the Nigeria to over 25 key international players in the ICT industry. Ezeobi explained that the main objective of the visit was to promote the ample investment opportunities in the country’s key sectors like ICT, Oil and Gas, Power, Agriculture, Solid Minerals amongst other key sectors. The delegation also highlighted Nigeria’s market size, entrepreneurial spirit, vibrant young demography, and fiscal incentives for pioneer investments.

Wabote was on the trip to expatiate on the NCDMB’s strategies to deepen collaborations and sectorial linkages between the Oil and Gas Industry and the ICT sector and used the opportunity to discuss with top fund managers, sister agencies and the founders of the start-up companies on the Board’s focus areas in Research and Development and support for companies domiciled in Nigeria.

He hinted that the Board has developed a pathway for developing research and development capabilities in the Nigerian Oil and Gas Industry and is partnering with various local and international stakeholders on the initiatives it is pursuing in this regard.

About 11 Nigerian start-up companies in innovation and technology made presentations, covering the application of technology and innovation to address challenges in logistics, procurement, healthcare, financial services and insurance.
The delegation also visited the offices of Google and Linkedin.

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