The Federal Government has offered to help Kenya with the management of its newly discovered oil resources.
This was disclosed by the Nigeria High Commissioner to Kenya, Akin Oyateru, who disclosed this on Thursday in Nairobi while speaking to journalists ahead of President Goodluck Jonathan’s state visit to Kenya.
Kenya recently announced that it will join the league of oil producing nations as its oil resources have met the benchmark for commercial exploitation.
According to Mr. Oyateru, Nigeria had a comparative advantage over Kenya in the oil sector and will be willing to assist them in several ways.
He said the visit of President Jonathan is focused on the expansion of co-operation between Nigeria and Kenya. He added that Africa Oil, a Canadian oil and Gas Company, together with British explorer, Tullow Oil Plc, had estimated the Kenyan oil reserves at 368 million barrels, a level capable of commercial exploitation.
“Kenya just discovered oil, so we have a lot of comparative advantages there, which we can actually impact in them. We will assist in exchanging ideas, collaborate, and cooperate in the area of training and capacity building,
“We could also help them in the area of redrafting their legislation to have a proper legislation in that sector,’’ he said.
He also said Nigeria will in return use the opportunity to tap from the broad knowledge of Kenya in the areas of horticulture, floriculture, dairy production, hospitality, and tourism; adding that Kenya is the leading exporter of cotton seed in the world and the largest producer of green beans.
“In the area of hospitality and tourism, we can learn a lot from Kenya, as you know, Kenya is one of the preferred destinations for tourists,’’ he said.
According to Mr. Oyateru, Kenya, which had a large deposit of limestone and vast in the production of sugarcane, is expected to go into a joint venture with private investors from both countries in cement and sugar production.
He also noted that two Nigerian banks, UBA and Ecobank, had already established branches in Kenya while GTB recently bought 70 per cent of Kenyan Fina Bank and hoping to fully take-off early next year.

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