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Federal Government Affirms Gas Utilization Drive for Economic Growth, Prosperity

Monday Yakubu by Monday Yakubu
May 16, 2024
in Business
0

In a resolute stance to harness Nigeria’s abundant gas resources for national development, President Bola Ahmed Tinubu reaffirmed the government’s commitment during the commissioning of three pivotal gas infrastructure projects spearheaded by NNPC Limited and its partners.

President Tinubu emphasized the significance of leveraging gas resources to stimulate industrial growth and propel economic prosperity, echoing the administration’s unwavering resolve towards sustainable development.

“These projects mark a significant milestone in our quest to bolster domestic gas utilization, enhance power generation capacity, and foster industrial revitalization,” President Tinubu declared at the commissioning ceremony held in Ohaji-Egbema, Imo State, and Kwale, Delta State.

The commissioned projects include 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.

Expressing optimism, President Tinubu highlighted the positive impact of the projects, stating, “Approximately 500MMscf of gas will be supplied to the domestic market, signifying over 25% incremental growth in gas supply. This translates into more energy for the Power Sector, Gas-Based Industries, and critical segments of the economy.”

The President underscored the administration’s strategic initiatives, including the Presidential Compressed Natural Gas (CNG) Initiative, aimed at transitioning Nigerians to alternative vehicular fuels, thus reducing reliance on petrol and diesel.

Commending NNPC Limited, Sterling Oil Exploration & Energy Production Company Limited (SEEPCO), and Seplat Energy for their collaborative efforts, President Tinubu urged NNPC Limited to sustain its drive towards achieving energy sufficiency and promoting national development.

Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, echoed the government’s commitment to gas utilization as a transition fuel towards clean energy efficiency by 2060. He lauded President Tinubu for his leadership and support in advancing the projects.

Mele Kyari, the Group Chief Executive Officer (GCEO) of NNPC Ltd., reiterated the company’s dedication to enhancing energy security through strategic gas projects, aligning with the President’s vision for rapid industrialization and economic growth.

The commissioning ceremony marked a pivotal moment in Nigeria’s energy landscape, aligning with the Federal Government’s Decade of Gas initiative and its agenda to maximize the nation’s gas assets while eradicating gas flaring and fostering industrialization.

As the nation embarks on this journey towards gas-fueled prosperity, President Tinubu assured stakeholders of an investment-friendly environment, affirming the government’s commitment to facilitating ease of doing business and driving economic growth.

The commissioning of these projects signifies a significant leap forward in Nigeria’s quest for energy sufficiency, economic prosperity, and sustainable development.

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