Nigeria’s President, Bola Tinubu, has stated that the three gas plants recently launched in the country’s Delta and Imo states will boost the country’s gas supply by 25% once they are operating at full capacity.
On Wednesday, Tinubu launched three projects: 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.
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“When these projects become fully operational, approximately 500 million standard cubic feet per day 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,” Tinubu said during the event.
Tinubu assured investors in the energy sector about his government’s commitment to improving the business environment and facilitating investment.
“This event is highly significant to our country as it demonstrates the administration’s concerted efforts to accelerate the development of critical gas infrastructure, which is geared toward significantly enhancing the supply of energy to boost industrial growth and create employment opportunities,” Tinubu added.
During the virtual inauguration of the projects at the State House, Tinubu assured citizens that his administration is intensifying its coordination of other significant projects and initiatives. These efforts will ensure the earliest realisation of gas-fuelled prosperity in the country, said the press release.
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By GlobalData“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 and its partners, Sterling Oil Exploration & Energy Production Company (SEEPCO) and Seplat Energy company, for these laudable and value-adding projects,” Tinubu said.
Tinubu also reaffirmed his government’s determination to offer assistance in expanding domestic gas usage, enhancing the nation’s power generation capabilities, rejuvenating industries and generating numerous employment prospects for economic advancement.
“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 president said.
Investments totalling $50m (N76.47bn) were attracted to the economy over the last five months through the Presidential Compressed Natural Gas Initiative (PCNGI).
The PCNGI is part of an intervention initiated by Tinubu’s administration. It aims to relieve the people affected by the Government of Nigeria’s fuel subsidy removal policy, according to its website.
