The north and north-east’s energy industry has been urged to work through security problems in Nigeria and recognise opportunities in the country.
Delegates at the Nigeria-UK Oil and Gas Supply Chain Engagement Forum event in Aberdeen yesterday were encouraged to consider doing business in the African nation and help its oil and gas industry to reach its full potential.
Andy Davison, UK Trade and Investment’s director of trade for Nigeria, accepted security was a problem but he added: “If companies deal directly with other businesses, then there are very few problems when it comes to corruption. It becomes more difficult when business works with the state.”
Mr Davison said 60% of Nigeria’s GDP was lost through theft and the country was running at only 30% capacity, but the economy was enjoying 7% annual growth, adding: “Imagine the impact any positive tweak to the mechanism will have.”
David Rayburn, a director at energy consultant Xodus Group, said: “I have been to Lagos quite a few times and never felt any threat or fear at all.”
The event came after UK hostage Chris McManus was killed by terrorists alongside an Italian colleague during a special forces rescue attempt in the north-western town of Sokoto on Thursday.