Nigeria, Oct. 29 -- The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is turning to the Bank of America for increased investment in oil production in the country.

The regulator's CEO, Gbenga Komolafe, met with the managing director and head of investment banking for sub-Saharan Africa at the bank, Chuba Ezenwa, in Abuja on Tuesday, as part of efforts to attract investments and boost oil production, according to a statement by Eniola Akinkuotu, the regulator's spokesperson.

"Nigeria is richly endowed with hydrocarbons, and we seek to optimise production. But funding is critical to our success. So, we are looking for areas of alignment with the Bank of America," Mr Komolafe said, stressing Nigeria's rich hydrocarbon resources ...