Menu Close

Energy: Tinubu commissions gas infrastructure, reassures investors of enabling environment in Nigeria

Photo: State House

*President Bola Ahmed Tinubu reassures investors in the energy sector of his administration’s resolve to further enhance the business environment and ensure friendly investment climate in the Nigerian economy

Isola Moses | ConsumerConnect

President Bola Ahmed Tinubu has reassured investors in the energy sector of his administration’s resolve to further enhance the business environment and ensure investment convenience.

Tinubu stated this Wednesday, May 15, 2024, when he virtually inaugurated three milestone projects, which are the expanded AHL Gas Processing Plant; the ANOH Gas Processing Plant, and the 23.3km ANOH to Obiafu-Obrikom-Oben (OB3) Custody Transfer Metering Station Gas Pipeline, in the State House, Abuja, FCT.

Speaking during the inauguration of the projects, President Tinubu also assured Nigerians that his administration is accelerating coordination of other landmark projects and initiatives that would ensure the earliest realisation of gas-fuelled prosperity in the West African country.

He further noted that the projects are fully in line with the “Decade of Gas” Initiative and his government’s vision to grow value from Nigeria’s abundant gas assets while concurrently eliminating gas flaring and accelerating industrialisation.

Ajuri Ngelale, Presidential Spokesman stated President Tinubu said: “This event is highly significant to our country as it demonstrates the administration’s concerted efforts to accelerate the development of critical gas infrastructure geared at significantly enhancing the supply of energy to boost industrial growth and create employment opportunities.

“It is pleasing that when these projects become fully operational, approximately 500MMscf of gas in aggregate will be supplied to the domestic market from these two gas processing plants, which represents over 25% incremental growth in gas supply.”

The Nigerian President stated: “In practical terms, this is more gas to the power sector, gas-based industries, and other critical segments of the economy.

“I, therefore, commend the strategic vision of the NNPC Limited and its partners, Sterling Oil Exploration & Energy Production Company Limited (SEEPCO) and Seplat Energy Plc, for this laudable and value-adding projects.”

He equally emphasised that his administration remains determined in its bid to leverage the country’s vast gas capacity to drive economic growth.

The President also explained: “Aside from the Presidential CNG Initiative which is aimed at moving the good people of Nigeria away from petrol and diesel as vehicular combustion fuel, significant progress has also been recorded in incentivising gas development through Presidential Directives.

“The theme of this inauguration – ‘From Gas to Prosperity; Renewed Hope’, must be adopted by all gas-sector participants and would-be investors as a clarion call to ramp up efforts to accelerate investment and developments of projects in the gas sector on a win-win basis.”

The Nigerian leader noted: “I would once again, commend the efforts of NNPC Limited, alongside SEEPCO and Seplat Energy, on this business partnership initiative, and congratulate you all on the successful implementation of the three projects.”

The President as well restated his administration’s resolve to continue to provide support in deepening domestic gas utilisation, increase national power generation capacity, revitalise industries, and create multiple job opportunities for economic growth.

He said: “Today (Wednesday), I have the singular honour to inaugurate the expansion of the AHL Gas Processing Plant, the ANOH Gas Processing Plant, and the 23.3Km ANOH to Obiafu-Obrikom-Oben (OB3) Custody Transfer Metering Station Gas Pipeline Projects in line with my administration’s resolve to provide energy for Nigerians, and to use our vast natural gas resources to transform Nigeria.”

Kindly Share This Story

 

 

 

 

Kindly share this story