The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has begun stakeholder engagements ahead of a planned Oil and Gas Investment Summit in China, scheduled tentatively for late November 2026, as part of efforts to attract fresh investments and grow revenues into the Federation Account.
The engagement was led by Dr. Ekene Enefe, Chairman of RMAFC’s Investment Monitoring Committee and Federal Commissioner representing Anambra State, during a briefing with key government agencies in Abuja on Sunday.
Dr. Enefe, in a statement by Maryam Umar Yusuf, Head, Information and Public Relations Unit, said the Committee’s mandate includes monitoring Federal Government investments in oil and gas and ensuring the nation receives appropriate revenues and accruals from the sector.
He noted that the Commission had recorded progress in revenue recovery and enforcement of penalties against defaulting oil companies, particularly on Petroleum Industry Act (PIA) provisions including gas-flaring obligations.
“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,” Dr. Enefe said.
He added that RMAFC had already engaged the Federal Ministry of Industry, Trade and Investment and the Nigerian Investment Promotion Commission (NIPC) to explore avenues for attracting investors.
According to Enefe, China was deliberately chosen because of its role in the global energy and investment landscape. Consultations have been held with the Nigerian High Commission in Beijing, where the Nigerian Ambassador and other stakeholders expressed support for the initiative.
The Presidency has also been briefed on the summit plan.
A stakeholder breakfast meeting has been scheduled for Wednesday, September 9, at Transcorp Hilton, Abuja.
It will formally brief government institutions and agencies and seek their input.
RMAFC also called on ministries and agencies to nominate representatives to serve on the summit planning committee.
The Minister of State for Petroleum Resources (Gas), Rt. Hon. Obongemem Ekperikpe Ekpo, expressed the Ministry’s support, stressing the need to showcase Nigeria’s investment opportunities to drive economic development.
He highlighted Nigeria’s estimated 215 trillion cubic feet of gas reserves as a major opportunity to drive growth, strengthen the regional energy market and position Nigeria on the global energy platform.
“The time has come for us to really decide for our nation, work for our nation, put things in the correct perspective,” the Minister stated.
Ekpo assured RMAFC of the Ministry’s cooperation and said a representative would be nominated to join the planning committee.
He also emphasized the need to effectively implement Presidential Executive Orders and the PIA through coordinated action among agencies.
RMAFC said the summit aligns with its broader efforts to strengthen inter-agency collaboration, promote investment in strategic sectors, and ensure Nigeria maximizes the revenue potential of its natural resources for all tiers of government.
Also in attendance were Federal Commissioner of Kogi, Hon. Abdulazeez Idris King and Director of Gas and Investment Department, Hajiya Zainab Larai Adamu.