Gas: More Revenue Will Be Generated From Businesses-Kyari
The Nigerian National Petroleum Company Limited (NNPC Ltd), says the country’s gas sector is now well-positioned to help businesses in the country generate more revenue. The Group Chief Executive Officer, of NNPCL, Mele Kyari said this when he spoke with newsmen on Wednesday in Owerri.
He spoke on the sidelines of the presidential inauguration of three critical gas infrastructures in Delta and Owerri. 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 projects are being undertaken by NNPC Ltd and partners in line with Tinubu’s commitment to significantly leverage gas to grow the economy. According to Kyari, the Tinubu-led administration is ensuring a conducive environment for businesses to thrive 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 taking investments in the floating Liquefied Natural Gas (LNG) that is already happening.
“We are already progressing massively on one other LNG product, and there are several other floating LNG projects that are now ongoing,” he said. According to Kyari. The inauguration of the various infrastructure is evidence of a gas revolution in play.
“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 said the speedy realisation of the gas projects was proof that Nigeria could transform its gas resources into value. And we are already seeing this value. And I believe that very shortly, the prosperity from gas will become very much.
“As the president has said, from gas to prosperity, and this is very important,” he said. Earlier, the Managing Director of AHL, Mohit Barot, commended the president in his effort towards revitalising the gas sector and boosting the business environment 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.
Also, Sen. Udo Udoma, the Chairman of Seplat, reiterated the company’s commitment toward supporting the government’s drive for industrialisation and economic growth. The plant being inaugurated is a clear example of what can be achieved through 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. The event was attended by senior government officials, partners, and stakeholders in the sector. Foreign Investors Increase Positions in Nigeria Eurobonds, Yield Swings
