NGML- NIPCO Gas JV Inaugurates Gas Project at Lekki Free Zone
NIPCO Gas Ltd. and its Joint Venture Partner, NNPC Gas Marketing Ltd. (NGML), on Wednesday inaugurated a gas supply project for the Lekki Free Zone Development Company (LFZDC) in Lagos.
The project is delivering over 100 Million standard cubic feet (MMscf) of gas daily. During the inauguration, the Managing Director of NIPCO Gas, Mr Nagendara Verma, explained that this milestone represented a significant advancement in utilising Nigeria’s natural gas resources to fuel economic development.
Verma emphasised that the project would stimulate industrial growth and job creation in the Lekki area, thereby contributing to the nation’s economic development.
He noted, “NIPCO Gas believes that the collaboration between NGML and NIPCO Gas will attract industries to establish their operations here, given the Lekki Free Zone’s strategic advantages, such as its proximity to the sea-port, export promotion zone benefits and improved road connectivity.
He said that the NGML-NIPCO Gas JV’s distribution network extended along the Lagos-Ibadan Expressway, supplying gas to various industries and now expanding to Ibadan and Abeokuta.
Verma said, “The availability of a reliable natural gas network is encouraging industries to set up their facilities in the area, leading to overall regional development, job creation and socio-economic upliftment.
“Industries benefit from a dependable, cost-effective and clean fuel source, which reduces fuel costs and maintenance expenses.
“NIPCO Gas entered into a partnership with NGML for the supply and distribution of natural gas in the Lekki Gas Distribution Area in June 2022.
“Subsequently, the NGML-NIPCO Gas JV signed a Gas Infrastructure and Development Agreement with LFZDC in November 2022 to ensure natural gas supplies for industries and a power plant.”
The Managing Director of NNPC Gas Marketing Ltd., Mr Justin Ezeala, described the event as a landmark in the country’s gas infrastructure development. He commended NIPCO Gas for its dedication and professionalism, expressing pride in the successful collaboration.
Ezeala noted, “We knew the gas business required seamless delivery and partnering with NIPCO Gas, known for its expertise in gas marketing and infrastructure development, has been a strategic move.’’
The Managing Director of LFZDC, Mr Dai Shunfa, said that the project would enhance development in the zone and positively impact the local community.
He lauded NIPCO Gas for ensuring a steady gas supply for business operations and expressed readiness to commence operations. Shunfa said, “The gas project will boost the economy and local capacity. We have successfully negotiated this agreement and it has become a reality.’’
The News Agency of Nigeria (NAN) reports that the gas infrastructure development will promote business growth in the Ibeju Lekki community and support economic advancement in Lagos. #NGML- NIPCO Gas JV Inaugurates Gas Project at Lekki Free Zone CBN Defends Naira with $39m in Forex Market
