By Terdue Atondu, Makurdi
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has commenced consultations with key stakeholders in Nigeria’s oil and gas sector as part of plans to attract fresh investments from China and boost revenues accruing to the Federation Account.
The Commission said it was working towards organising an Oil and Gas Investment Summit in China, tentatively scheduled for November 2026, to showcase investment opportunities in Nigeria’s upstream and downstream oil and gas sectors.
Chairman of RMAFC’s Investment Monitoring Committee and Federal Commissioner representing Anambra State, Dr. Ekene Enefe, disclosed this during an engagement with relevant government agencies in Abuja.
Enefe said the proposed summit formed part of the Commission’s broader efforts to strengthen investment in the oil and gas industry, expand the nation’s revenue base and ensure that Nigeria derives maximum financial benefits from its natural resources.
He explained that the Investment Monitoring Committee, one of RMAFC’s constitutional committees, is saddled with monitoring Federal Government investments in the oil and gas sector and ensuring that appropriate revenues and accruals are remitted to the Federation.
According to him, the Committee has made progress in monitoring the sector, including the recovery of revenues and enforcement of penalties against defaulting oil companies, particularly over obligations arising from the Petroleum Industry Act (PIA), including gas flaring.
Enefe said the Commission identified huge investment opportunities in Nigeria’s gas sector and decided to facilitate increased participation by investors in both the upstream and downstream segments.
“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 disclosed that RMAFC had engaged the Federal Ministry of Industry, Trade and Investment and the Nigerian Investment Promotion Commission (NIPC) as part of efforts to develop strategies for attracting investors into the sector.
The RMAFC commissioner added that the Commission had also briefed the Presidency on the initiative and was consulting relevant government agencies to ensure the success of the proposed summit.
He explained that China was selected as the host because of its strategic position in the global energy and investment landscape.
Enefe further disclosed that consultations had already been held with the Nigerian High Commission in Beijing, including the Nigerian Ambassador and other stakeholders, who expressed support for the initiative.
He said a stakeholder breakfast meeting scheduled for Wednesday, September 9, 2026, at Transcorp Hilton, Abuja, would bring together relevant government institutions and agencies involved in oil and gas investment.
The meeting, he said, would provide an opportunity to formally present the summit proposal and secure inputs from stakeholders, while participating ministries and agencies would be expected to nominate representatives to the summit’s planning committee.
Responding, the Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, expressed the Ministry’s support for the proposed investment summit.
Ekpo stressed the importance of showcasing Nigeria’s investment opportunities to international investors, saying increased investment in the oil and gas sector would contribute significantly to economic growth and development.
He also emphasised the need for effective implementation of Presidential Executive Orders and provisions of the Petroleum Industry Act through stronger coordination among relevant government institutions.
The Minister pointed to Nigeria’s estimated 215 trillion cubic feet of gas reserves, describing the resource as a major opportunity to drive economic growth, strengthen the regional energy market and enhance Nigeria’s position in the global energy sector.
He assured RMAFC that the Ministry would collaborate with the Commission and other stakeholders in planning the summit.
“The time has come for us to really decide for our nation, work for our nation, put things in the correct perspective,” Ekpo stated.
The Minister also confirmed that the Ministry would nominate a representative to the summit planning committee.
He commended RMAFC for initiating the engagement, expressing optimism that the proposed China summit would help attract new investments into Nigeria’s oil and gas industry and ultimately increase government revenue.
The engagement further highlighted RMAFC’s efforts to strengthen inter-agency cooperation, promote investment in strategic sectors and maximise the revenue potential of Nigeria’s natural resources for the benefit of all tiers of government and Nigerians.
Also in attendance were RMAFC Federal Commissioner representing Kogi State, Hon. Abdulazeez Idris King, and Director of Gas and Investment Department, Hajiya Zainab Larai Adamu.
