Vice President, Prof. Yemi Osinbajo has urged African countries to collaborate in efforts to develop infrastructure in the oil and gas sector for the growth of the region.

Osinbajo made the call at the opening ceremony of the Extraordinary Session of the Council of Ministers of African Petroleum Producers’ Organisation(APPO) Abuja, on Monday.

He bemoaned the paucity of funds required to undertake significant investments in the oil and gas industry in Nigeria and the rest of the African continent.

He noted that due to the fact that the oil and gas industry was very capital intensive, individual African countries would not have the resources required to make the necessary investments in the industry.

“This is especially true, because these investments are competing with infrastructure and social services for the limited resources available to us as government,” he said. Osinbajo, however, called for increased synergy and cooperation among oil-producing countries in Africa.

Source: Leadership