Ugandan High Commissioner to Nigeria, Ambassador Nelson Ocheger, says six Nigerian companies have indicated interest to invest in his country’s oil and gas industry.
Ocheger made this known at the ongoing 2021 Lagos International Trade Fair (LITF) yesterday, with the theme: “Connecting Businesses, Creating Value.”
Over 200,000 visitors are expected while about 1,500 exhibitors from 16 countries are participating in the 35th edition of the fair.
He said Uganda was set to produce its first oil as early as 2025 and production in the next five years was expected to jump to 230,000 barrels per day, from zero in 2021.
He said: “We have started exploring our oil reserves. We hope that by 2025, we will be able to start selling crude refined in Uganda.
“We are currently constructing a refinery, we are building pipelines and an airport to service that industry in Western Uganda. We are expecting to produce and it is very attractive to investors and six Nigerian companies have already shown interest.”
Ocheger said the projects were being executed using the public private partnership model and was attracting investors.
He noted that Nigeria was the biggest oil producer in Africa with vast years of experience in the sector.