President Tinubu unveils gas projects, assure investors business-friendly environment

President Bola Tinubu has assured investors that his administration is determined to improve the “the ease of doing business,” in Nigeria’s oil and gas sector.

He said an enhanced business environment and improved investment convenience will ultimately improve the standard of living for Nigerians.

“I wish to assure investors in the energy space that this is an investment enabling government and we will not relent in facilitating the ease of doing business,” said Tinubu when he inaugurated three milestone projects in Delta and Imo states on Wednesday.

The projects are 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.

Tinubu’s Special Adviser on Media and Publicity, Mr. Ajuri Ngelale, revealed this in a statement he signed Wednesday titled ‘President Tinubu inaugurates critical gas infrastructure projects, gas infrastructure projects, reassures investors in energy sector of enabling environment to thrive.’

Speaking during the virtual inauguration of the projects at the State House, the President also assured citizens that his administration is stepping up its coordination of other landmark projects and initiatives that will ensure the earliest realisation of gas-fueled prosperity in the country.

He noted that the projects are fully in line with the Decade of Gas Initiative and his government’s vision to grow value from the nation’s abundant gas assets while concurrently eliminating gas flaring and accelerating industrialization.

“This event is highly significant to our country as it demonstrates the administration’s concerted efforts to accelerate the development of critical gas infrastructure geared at significantly enhancing the supply of energy to boost industrial growth and create employment opportunities.

“It is pleasing that when these projects become fully operational, approximately 500MMscf 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.

“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 Limited and its partners, Sterling Oil Exploration & Energy Production Company Limited and Seplat Energy Plc, for this laudable and value-adding projects,” Tinubu said.

The President affirmed that his government remains determined in its bid to leverage the nation’s vast gas capacity to drive economic growth.

He said “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 incentivizing gas development through Presidential Directives.

“The theme of this inauguration – ‘From Gas to Prosperity; Renewed Hope’, must be adopted by all gas-sector participants and would-be investors as a clarion call to ramp up efforts to accelerate investment and developments of projects in the gas sector on a win-win basis.

“I would once again commend the efforts of NNPC Ltd, alongside SEEPCO and Seplat Energy, on this business partnership initiative, and congratulate you all on the successful implementation of the three projects.”

President Tinubu also reiterated his government’s resolve to continue to provide support in deepening domestic gas utilisation, increase national power generation capacity, revitalize industries, and create multiple job opportunities for economic growth.

“Today, I have the singular honour to inaugurate the expansion of the 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 Projects in line with my administration’s resolve to provide energy for Nigerians, and to use our vast natural gas resources to transform Nigeria,” the President concluded.

In his remarks, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, said the removal petrol subsidies had motivated a push towards gas production which also serves as Nigeria’s transition fuel.

“Mr. President, the decision to eliminate fuel subsidies at the start of your administration has compelled increased spending in the upstream and midstream gas development, and the use of gas as an appropriate, more cost-effective, and cleaner alternative to diesel and gasoline.

“Furthermore, in keeping with the climate control accord, this measure solidifies the use of gas as our transition fuel as we move the nation toward achieving green energy sufficiency by 2060,” said Ekpo.

He urged stakeholders to leverage Nigeria’s gas potential saying “Together, let’s keep working toward building a future that is full of hope, opportunity, and prosperity for everybody.”

On his part, the Group CEO of the Nigerian National Petroleum Company Ltd., Mele Kyari, argued that Wednesday’s launch shows how much progress Nigeria can make in boosting its gas fortunes if it dedicates the right resources go it.