AA Holdings, a proprietary investment company, is set to sponsor The Petroleum Club’s 2021 Annual Business Dinner as part of its commitment to advance the growth of the upstream Oil and Gas sector. The dinner will host industry leaders in the petroleum industry in Nigeria to discuss the present state of the industry and its future.
The event which will hold on the 14th of July at the Metropolitan Club, Lagos, will also be streamed virtually and will feature a paper presentation titled, “A discussion on the future of the Nigerian Petroleum Industry” by the guest speaker, Director-General, Department of Petroleum Resources (DPR), Engr. Sarki Auwalu (FNSE).
According to the data from the National Bureau of Statistics (NBS), the oil and gas sector accounts for 10% of Nigeria’s gross domestic product (GDP) while contributing an estimated 80% of annual revenue. Hence through this sponsorship, AA Holdings hopes to contribute to the discuss on how Nigeria can sustain the role of the Oil and Gas sector in the economy and its impact. In addition, the sponsorship seeks to promote investment through enterprises that have a positive impact on social economic development.
Speaking on the sponsorship, Executive Chairman and Founder, AA Holdings, Austin Avuru expressed the company’s desire to investing in key sectors in the country. “As trusted business partners, we are excited to sponsor The Petroleum Club’s Annual Business Meeting as this expresses our commitment to unlocking potentials that transform societies especially across the SSA market through critical thinking. It’s our opinion that the Oil and Gas sector will remain vital to Nigeria’s economic growth in the long term, and we aim to ensure this realisation by supporting platforms where stakeholders can engage and formulate pertinent strategies for success.”
AA Holdings is building a portfolio of innovative companies that will be invested in high growth sectors with emphasis on oil and gas, green housing farming and commercial and residential real estate development. Also, the company pursues the philanthropic interests of the Austin Avuru family office through AA Foundation.