The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has stepped up efforts to attract increased investment into Nigeria’s oil and gas industry, with plans to showcase the country’s investment opportunities at a proposed Oil and Gas Investment Summit in Beijing, China.
RMAFC Chairman, Dr Mohammed Bello Shehu, OFR, disclosed this on Wednesday, September 9, 2026, during a breakfast meeting with key stakeholders in the oil and gas sector at the Transcorp Hilton Hotel, Abuja.
Shehu said the proposed summit was designed to position Nigeria as a competitive destination for sustainable investment by showcasing opportunities across the upstream, midstream and downstream segments of the petroleum industry.
He said the summit would also expose potential investors to Nigeria’s ongoing reforms, technological developments, financing opportunities and measures aimed at improving the ease of doing business.
According to him, RMAFC’s involvement is based on its constitutional mandate to monitor revenue accruing to and distributed from the Federation Account, as well as advise governments on fiscal efficiency and measures to improve revenue generation.
The chairman stressed that the Commission would not encroach on the statutory responsibilities of other government agencies, but would work with regulators, government institutions, industry operators and investors to achieve the objectives of the initiative.
Shehu said Nigeria’s abundant hydrocarbon resources, strategic location and growing population presented enormous opportunities for investment, noting that unlocking the sector’s full potential required cooperation among government, investors, financial institutions, host communities and development partners.
He disclosed that RMAFC had already held preliminary engagements in China with the Nigerian Ambassador and diplomatic officials in Beijing, Chinese event planners and consultants, the Nigerian Trade Commissioner and other stakeholders.
He said the engagements were aimed at strengthening partnerships and putting the necessary arrangements in place for a successful summit.
Shehu further explained that the Beijing summit would feature business-to-business meetings, policy discussions, investment matchmaking, technical exhibitions and networking sessions designed to facilitate long-term partnerships, increase local content participation and create jobs.
He expressed optimism that the reforms of the President Bola Tinubu administration under the Renewed Hope Agenda would improve investor confidence and create a more predictable regulatory environment for businesses.
The Commissioner for Energy and Minerals, Enugu State, Hon. Franklin Enyinnaya Ogbonna, commended RMAFC for organising the stakeholder engagement, saying Nigeria remained rich in opportunities across the oil and gas value chain.
Ogbonna said reforms such as the Petroleum Industry Act, licensing bid rounds and other government interventions had opened up opportunities in exploration, production, infrastructure and petroleum evacuation.
He urged international investors to take advantage of the opportunities while assuring that Enugu State was prepared to showcase its natural gas resources at the proposed summit.
According to him, the state is committed to developing its gas resources as a catalyst for industrialisation in Enugu and the Southeast.
Representing the Chief of Naval Staff, the Chief of Operations, Rear Admiral Patrick Effel, said security remained critical to attracting investment into the oil and gas industry.
He assured prospective investors of the Nigerian Navy’s commitment to securing the nation’s maritime domain through sustained surveillance and operational presence.
Effel said the Navy would continue to ensure that Nigeria’s waters remained safe for legitimate commercial activities.
Meanwhile, the Chief Operating Officer of Subaz Nigeria Limited and National Publicity Relations Officer of the Independent Petroleum Marketers Association of Nigeria, Chief Ukadike Chinedu, identified the rehabilitation and expansion of petroleum product pipelines as a major investment opportunity.
Ukadike said the deterioration of the pipeline network had increased transportation costs, weakened distribution efficiency and affected energy security.
He urged RMAFC and other stakeholders to make pipeline infrastructure a priority at the Beijing summit, noting that modern technology and strategic investment could improve petroleum distribution and strengthen the nation’s supply chain.
The Chairman of RMAFC’s Investment Monitoring Committee, Hon. Dr Ekene Enefe, assured participants that their recommendations would be considered in the planning of the summit.
He said the Commission remained committed to initiatives capable of attracting investment, strengthening the oil and gas sector and boosting revenue generation for the country.
The meeting was attended by the Secretary to the Commission, Comrade Tosin Adeyanju; Federal Commissioners of RMAFC; Special Advisers to the Chairman; members of the Investment Monitoring Committee; representatives of government agencies, regulators, industry operators and other stakeholders.
