The federal government has reiterated its pledge to convert Nigeria into a natural-gas driven economy.
On Tuesday, Ekperikpe Ekpo, who serves as the Minister of State for Petroleum Resources (Gas), provided this guarantee during the inauguration of both the Otakikpo Liquefied Petroleum Gas Extraction facility and a 20-megawatt power initiative located within the boundaries of the Otakikpo Petroleum Mining Lease II area in Ikuru Town, situated in Rivers State’s Andoni Local Government Area.
He stated that the Federal Government aims to leverage the nation’s vast gas resource potential with the intention of making gas the primary fuel for progress.
He stated, "This initiative is aligned with the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu, aimed at converting Nigeria's economy into one driven by natural gas for the benefit of everyone. The president has tasked me with spearheading the advancement of the gas industry within the nation."
Nigeria, which has an estimated 209 trillion cubic feet of gas in its reserves, holds the position of being the eighth-largest globally and leads Africa with 33 percent of the continent's gas reserves.
It is against the backdrop of this significant natural gas reserve potential that the Nigerian federal government initiated the Decade of Gas program in 2021, aiming to use gas as the primary energy source for driving national progress.
The establishment of the Ministry of Petroleum Resources (Gas) by Mr. President demonstrates his insight and sagacity in guaranteeing a specialized and strategic emphasis on the advancement of our natural gas assets.
The minister was notably pleased with the detail that the facility is the intellectual achievement of an indigenous firm, Green Energy International Limited—the company managing the Otakikpo Field Petroleum Mining Lease II along with its joint venture partner, Lekoil Oil and Gas Investment Limited. He also affirmed the government’s commitment to backing their aspirations.
He remarked, "It is satisfying to see that the joint venture has made considerable progress in adhering to the provisions of the Petroleum Industry Act from 2021. This achievement is notably marked by the creation of the separate mainstay entity called First Otakikpo Mainstream Limited, which will handle the gas operations."
This is a native business that has chosen to seize the future of our nation, Nigeria, for itself. Congratulations to everyone involved.
I want to reaffirm our current administration’s dedication to backing your ambitions as you further develop your investments in Nigeria’s natural gas industry.
In his earlier welcoming speech, Professor Anthony Adegbulugbe, the chairman of Green Energy International Limited, highlighted that the initiatives costing the joint venture more than $60 million demonstrate their dedication to the Federal Government.
Professor Adegbulgbe stated, "The inauguration of the two facilities—the 12 mmscf liquefied petroleum gas processing unit and the 20 MW energy project—marks the realization of the objectives set forth by the Otakikpo Joint Venture. This venture includes Green Energy International Limited, which manages the site, along with Lekoil Oil and Gas Investment Limited as our technological ally."
It demonstrates our dedication to the Federal Government’s pledge to carry out a pilot initiative under the World Bank’s Flare Reduction Program, as part of the Small-Scale Gas Utilization Scheme.
Our objective was to develop an exclusive framework aimed at facilitating oil extraction from the field. This system would not just put an end to gas flaring but also convert the associated gas into valuable resources such as domestic fuel, electricity production, and various derivatives. The aim was to boost the economic growth of both local communities and the country overall.
He expressed additional gratitude to the host community for their assistance, urging them to continue providing support.
He added, “I also wish to appreciate our host communities for the cooperation we have enjoyed so far and even though we have had some challenging moments, we have overcome such incidents with more open engagements.
As we expand our presence in development initiatives, we can expect rapid advancements in collective wealth. Nonetheless, attaining this mutual success requires these communities to maintain a stable and supportive atmosphere for our activities.
The chairman of Ikuru Town Host Community Development Trust Fund, Professor Lysias Gilbert, expressed his appreciation for the collaborative effort, highlighting that this project will have a beneficial effect on the local population.
Professor Gilbert stated, "We are delighted that a project of this kind is being initiated here today. Being members of the Ikuru community, we feel confident that this initiative will have a significant positive effect on our community."
Therefore, it's an investment for the settlor, whereas it serves as a developmental initiative within our communities.
Provided by Syndigate Media Inc. ( Syndigate.info ).
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