[BREAKING] Nigeria in talks with firm for $20bn investment: Oil minister

Heineken Lokpobiri, Nigeria’s junior oil minister, has said the country is in talks with an undisclosed firm aiming to invest $20 billion in the oil and gas sector.

The minister announced this on Tuesday at the opening ceremony of the Nigerian International Energy Summit in Abuja.

He noted the announcement in December of the final investment decision for Shell’s $5bn Bonga North deepwater project.

“A lot more groundbreaking announcements are coming in the next few months. There is actually a company that we are talking with that will announce investment of $20 billion,” he said.