Menu Close

Nigeria: Tinubu assures investors of conducive environment, EoDB

President Bola Ahmed Tinubu, GCFR

*President Bola Ahmed Tinubu, GCFR, directs investors from France and Japan, who are investing $5 billion in Nigeria’s Liquefied Natural Gas sector to prioritise the project expected to generate about 7,000 direct and indirect jobs in the West African country

Isola Moses | ConsumerConnect

As part of continued efforts at entrenching the Ease of Doing Business (EoDB) in Nigeria, President Bola Ahmed Tinubu has assured genuine local and foreign investors of his administration’s commitment to providing conducive environment for businesses to thrive.

ConsumerConnect reports Mr. Julius Rone, Group Managing Director (GMD) of UTM FLNG Limited, stated this after a meeting with President Tinubu Wednesday, July 5, 2023, in Abuja, FCT.

It was gathered the investors from France and Japan, during the meeting with the Nigerian President, had pledged to invest $5 billion in the floating Liquefied Natural Gas (LNG) sector of the West African country’s economy.

Rone was on the visit with Ms. Emmanuelle Blatmann, the Ambassador of France to Nigeria, Ms. Hiromi Otuski, Deputy Ambassador for Japan to Nigeria, Mr. Naoki Noguchi, MD JGC, and Mr. Sadeeq Mai Bornu, agency report said.

Rone also disclosed that Tinubu directed them to prioritise the project which is expected to generate no fewer than 7,000 direct and indirect jobs in the country.

The investors from Technip Energies of France and JGC Corporation of Japan, were also directed to report any challenge to the President in the course of implementation, said he.

According to Rone, the two companies would invest about five billion U.S Dollars in the floating energies in collaboration with the NNPC Limited, while the Afrexim Bank is working on the financing aspect.

The proposed project will have 300,000 tonnes capacity of Liquefied Petroleum Gas (LPG) per annum to meet 25 percent of demand by Nigerian gas consumers.

Application of local content initiative in project

In terms of the local content on the project, Rone further said that a number of Nigerians are already being trained on handling of the various equipment for the project.

The plants will also be created for the delivery and marketing of the products to customers on completion.

Kindly Share This Story




Kindly share this story