Nigeria says it expects to get as much as $4 billion in investment facilities for oil industry infrastructure as a 40-member Chinese investment team arrives the country at the end of the month. This is a fallout from the July road show in China where Nigeria signed a $75.6 billion Memorandum of Understanding in investment in the oil sector, the Minister of State for Petroleum Resources, Emmanuel Kachikwu, said after the Federal Executive Council meeting on Wednesday. Briefing journalists alongside the Ministers of Information and Culture, Lai Mohammed; Interior, Abdurahman Danbazzau; and Power, Works and Housing, Babatunde Fashola, after the FEC meeting Mr. Kachikwu explained that the MOUs signed during the road show generally have a gestation period of about one year as both countries set up their teams on bilateral lines to look at specific areas of investment interests. “That is still work in progress,” he said. “We […]