Tinubu to investors: New gas projects will supply 25% production to Nigeria’s market
President Bola Tinubu has provided reassurance to investors in the energy sector regarding his administration’s commitment to facilitating a conducive business environment. This affirmation came during the inauguration ceremony of three significant projects: the expanded AHL Gas Processing Plant, ANOH Gas Processing Plant, and the 23.3km ANOH to Obiafu-Obrikom-Oben (OB3) Custody Transfer Metering Station Gas Pipeline.
The virtual inauguration, held at the State House, witnessed President Tinubu highlighting the alignment of these projects with the Decade of Gas Initiative. He emphasized their pivotal role in leveraging Nigeria’s abundant gas resources to spur economic growth while addressing environmental concerns such as gas flaring and accelerating industrialization.
“These projects demonstrate our concerted efforts to accelerate the development of critical gas infrastructure, significantly enhancing energy supply for industrial growth and job creation,” President Tinubu remarked.
He commended the strategic vision of NNPC Limited and its partners, Sterling Oil Exploration & Energy Production Company Limited (SEEPCO), and Seplat Energy Plc, for their contributions to the projects. Upon full operation, these projects are expected to increase gas supply to the domestic market by over 25%, benefiting various sectors of the economy including power and industry.
President Tinubu reiterated his administration’s determination to leverage Nigeria’s vast gas capacity for economic growth. He highlighted initiatives such as the Presidential Compressed Natural Gas (CNG) initiative aimed at transitioning to cleaner fuels and incentivizing gas development through Presidential Directives.
The theme of the inauguration, “From Gas to Prosperity; Renewed Hope,” was underscored by President Tinubu as a call to action for stakeholders and potential investors to accelerate investment in the gas sector.
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Furthermore, President Tinubu reaffirmed his government’s commitment to supporting domestic gas utilization, increasing power generation capacity, revitalizing industries, and creating job opportunities for economic growth.
“In line with my administration’s resolve to provide energy for Nigerians and transform Nigeria using our vast natural gas resources, I am honored to inaugurate these projects today,” President Tinubu concluded.
The inauguration ceremony signifies a significant milestone in Nigeria’s journey towards harnessing its gas resources for sustainable development and economic prosperity.
