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Tinubu, Oborevwori Make Case For More Investments In The Energy Sector

by NewsDen Publishers
June 6, 2024
in BUSINESS, NEWS, NIGERIA
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Tinubu, Oborevwori Make Case For More Investments In The Energy Sector
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President Bola Tinubu and the Governor of Delta State, Rt. Hon. Sheriff Oborevwori on Thursday, stated the need to boost energy for the use of Nigerians.

They both spoke at the inauguration of the Upgraded Nedogas Processing Plant and the Kwale Gas Gathering Facility, Kwale in Ndokwa West Local Government Area of Delta State.

According to them, energy is very vital in the socio-economic life of the people.

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President Tinubu who was represented by the Minister of State, Gas, Rt. Hon. Ekperikpe Ekpo, disclosed that the Federal Government was committed to encourage the harnessing of the rich gas resources of the country for use by Nigerians and commended the Board and Executive Management Team of the Nedogas Development Company Limited (NDCL) and the Nigerian Content Development and Monitoring Board (NCDMB), for making the project possible.

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Also, Governor Oborevwori who was represented by his Deputy, Sir Monday Onyeme, FCA, stated that successful setting up of the gas processing plant in Kwale should encourage other investors to set up such in other parts of the state where gas flaring take place.

” I call for the replication of this project in other parts of our state where gas flaring is taking place to reduce its effects on our people,” he said, emphasizing, “one can feel the pains of every Nigerian when it comes to the issue of energy  availability and affordability.

“Even more worrisome is the World Bank report that due to poor power supply in the country, businesses spend about $29 billion yearly on power.

” It is also  quite unfortunate that the country is  ranked as the lowest in terms of access to electricity, globally”.

Governor Oborevwori stated that the projects would no doubt benefit Nigerians, particularly the people of Delta in legion ways.

According to him, Nigeria boasts of a reserve base of 208.83 trillion cubic feet of gas which represents 33 per cent of Africa’s total gas reserves.

“This places Nigeria as the ninth among countries with high concentration of natural gas in the world.

“So, with these projects, the energy needs of Nigerians will get a boost, especially in the critical area of supply.

“It is heartwarming, too, that this facility will have gas supplied to it by other oil companies that are operating in this area which will greatly reduce the effects of gas flaring on our people.

“We are all aware that the level of gas flaring is very high in this part of the world, despite its  acknowledged adverse effects on the climate, causes acid rain and adversely affect the health of the people.”

On his part, the Chairman, Nedogas Limited, Emeka Ene in his address of welcome thanked the government, strategic partners and the community for the providing the needed support and enabling environment to achieve the project.

He said, “The KGG Facility, with its impressive capacity of 300 million standard cubic feets per day (mmscfd) is a testament to what can be achieved when innovation, determination, and strategic partnerships converge.

“No doubt, these projects will lead to the creation of a lot of direct and indirect job opportunities, too, thereby, boosting the economy of our state.

“I call for the replication of this project in other parts of our state where gas flaring is taking place to reduce its effects on our people.

“I also urge Nedogas Limited and its partner, the Nigerian Content Development and Monitoring Board (NCDMB),  to enhance the use of local contents.

” And to meet with its social responsibilities and above all, ensure conducive, peaceful relationship with the host communities.”

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