Singapore companies unveil plans of investing in Nigeria’s oil sector

NIGERIA – At least 12 companies from Singapore have expressed interest to explore the Nigerian oil and gas industry. The companies under the aegis of Enterprise Singapore have also expressed to venture into other sectors of the economy.

Enterprise Singapore collaborates with investment promotion councils, chambers of commerce and local consultants to connect indigenous businesses with relevant Singapore companies for their business expansion.

Plans have already been kick started by the Singaporean companies to determine the best strategy to penetrate the industry which is one of the largest in Sub-Saharan Africa.

According to a statement issued by Chief Executive Officer of Hatytude Consultancy Services Limited, Mr Olufemi Hassan, representatives of the Singaporean companies have scheduled meetings with the major players in the oil and gas sector industry to explore more access to the global markets.

In his Wednesday statement, Mr. Hassan revealed that the companies which were no fewer than 12 comprised of major drilling companies, vessel builders and providers of marine and offshore support services already in Nigeria.

“Singaporean companies are renowned for their dedication to quality and innovation; as such they make ideal business partners,” noted Mr Hassan.

In July this year, Singapore Business Federation, a government agency tasked with the responsibility of championing the interests of the Singapore business community in the areas of trade, investment and industrial relations, led a similar business mission to Nigeria.

Enterprise Singapore is a government agency that mainly focuses on developing Singaporean enterprises both in Singapore and abroad.

It provides its member companies with capabilities which they require to innovate and internationalize.

The organization was started in 2018 in Singapore and currently operates about 36 oversees centres in 21 countries.

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