The Nigerian National Petroleum Company Limited (NNPC Ltd) has said that the country’s gas sector is now strategically positioned to assist businesses in generating increased revenue.
The Group Chief Executive Officer of NNPCL, Mele Kyari said this when he spoke with newsmen on Wednesday in Owerri during the inauguration of a gas plant in the state.
Nairametrics previously reported that President Bola Tinubu inaugurated the ANOH-OB3 CTMS gas pipeline and ANOH gas processing plant in Assa, Ohaji/Egbema in Imo.
Tinubu also inaugurated the expansion of the AHL gas processing plant 2 gas project in Kwale in Delta.
The initiatives are being carried out by NNPC Ltd and its partners, aligning with Tinubu’s pledge to extensively utilize gas to enhance the economy.
Kyari noted that the administration led by Tinubu is committed to creating a favorable environment for businesses to prosper in the country.
“There’s ample fiscal environment today. The laws are good. It encourages gas development, and taxation is lower. Businesses can make more money from gas in this country.
“And that is why we are seeing renewed interest in making investments in the floating Liquefied Natural Gas (LNGs) that is already happening.
“We are already progressing massively on one other LNG product, and there are a number of other floating LNG projects that are now ongoing,” he said.
Nigeria Ready to transform gas resources into value
Speaking further, Kyari noted that the rapid completion of the gas projects demonstrates that Nigeria can convert its gas resources into tangible value.
According to Kyari, the inauguration of these infrastructures signifies an ongoing gas revolution.
“What this means to our country is that enormous resources are being put into the domestic market.
“It will provide gas for power, gas for industries, gas to chemicals, and that value chain.
“It will create jobs, employment taxes, and everything that you can imagine a typical gas country should benefit from.
“And this is becoming very apparent because you do need the backbone infrastructure to deliver on all this. And this is what Mr President has pushed, and we are delivering on them,” Kyari added.
What private partners are saying
On their part, the Managing Director of AHL, Mohit Barot, lauded the president for his efforts in revitalizing the gas sector and enhancing the business climate in the country.
“We from the private sector look forward to contributing more significantly to the nation’s economy by providing more jobs, advancing technology in our sector, and ensuring exemplary citizenship.
“We will continue to ensure environmental sustainability and economic resilience. And I thank you for your leadership and support,” Barot said.
Similarly, Sen. Udo Udoma, the Chairman of Seplat, reaffirmed the company’s dedication to backing the government’s push for industrialization and economic expansion.
“The plant being inaugurated is a clear example of what can be achieved through an effective collaboration.
“This project aligns with Seplats’ mission of leading Nigeria’s energy transition with accessible, affordable, and reliable energy for social and economic prosperity,” he said.
Backstory
Earlier on Wednesday, Nairametrics had reported that President Tinubu inaugurated three gas plants in Delta and Imo states.
The gas plants included 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.
During the launch, Tinubu said the gas plants will increase the nation’s gas supply by 25% when they are fully operational.
The president also affirmed that his administration is intensifying its coordination of other significant projects and initiatives that will guarantee the earliest achievement of gas-fueled prosperity in the country.