According to the Nigerian National Petroleum Company Limited (NNPC Ltd), the nation’s gas industry is now well-situated to help companies make more money.
This was said by NNPCL Group Chief Executive Officer Mele Kyari in an interview with reporters on Wednesday in Owerri, at the state’s gas plant opening.
President Bola Tinubu officially opened the ANOH-OB3 CTMS gas pipeline and ANOH gas processing plant in Assa, Ohaji/Egbema, Imo, according to a previous article published in The News Chronicles.
Tinubu also launched the expansion of the AHL gas processing facility 2 gas project in Kwale, Delta.
NNPC Ltd. and its partners are implementing the plans, which are in line with Tinubu’s promise to use gas widely to boost the economy.
Kyari stated that the Tinubu-led administration is dedicated to fostering an atmosphere that will allow companies to thrive in the nation.
“The financial landscape is favorable right now. The laws work well. Taxes are reduced, and gas development is encouraged. In this country, gas can generate higher profits for businesses.”
“And that is why we are seeing renewed interest in making investments in the floating Liquefied Natural Gas (LNGs) that is already happening.”
He stated, “There are several other floating LNG projects that are currently ongoing, and we are already making massive progress on one other LNG product.”
Nigeria is ready to transform gas resources into wealth
Kyari went on to say that Nigeria can turn its gas resources into real value because of the gas projects’ quick completion.
Kyari claims that the opening of these facilities represents a continuing gas revolution.
“This implies that significant resources are being allocated to the domestic market, which is beneficial for our nation.”
“It will supply gas for that value chain, industries, power, and chemicals.”
“It will generate employment, employment taxes, and all the benefits one could hope for in a typical gas-producing nation.”
“And the fact that you do need the backbone infrastructure to deliver on all of this makes this increasingly clear. And we are implementing the things that the President has advocated for,” Kyari continued.
Statements from private partners
AHL’s Managing Director, Mohit Barot, praised the president for his efforts to improve the nation’s business environment and revive the gas industry.
“The private sector looks forward to making a greater economic contribution to the country by creating more jobs, advancing technology in our industry, and guaranteeing model citizenship.”
“We’ll keep up our efforts to maintain both economic stability and environmental sustainability. And I appreciate your guidance and help,” Barot remarked.
Seplat Chairman Sen. Udo Udoma similarly reiterated the company’s commitment to supporting the government’s drive for economic growth and development.
“The plant that is being inaugurated is a prime example of what successful teamwork can accomplish.”
“This project is in line with Seplats’ objective of spearheading Nigeria’s energy transformation by providing dependable, reasonably priced, and easily accessible energy for both social and economic advancement,” the spokesperson stated.
President Tinubu reportedly inaugurated three gas plants in the states of Delta and Imo earlier on Wednesday.
The ANOH Gas Processing Plant, the upgraded AHL Gas Processing Plant, and the 23.3 km ANOH to Obiafu-Obrikom-Oben (OB3) Custody Transfer Metering Station Gas Pipeline were among the gas plants.
When the gas plants are completely operating, as Tinubu stated during the launch, the nation’s gas supply will increase by 25%.
The president further stated that his administration is stepping up efforts to coordinate other major projects and programs that would ensure the nation achieves gas-fueled prosperity as soon as possible.
