Kyari Advises Local Businesses to Consider Investment in Gas

By Adedapo Adesanya

The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, Mr Mele Kyari, has tasked local businesses to make more money from gas in Nigeria, a development that has seen renewed interest in making investments in the floating Liquefied Natural Gas (LNG).

Mr Kyari said this in Owerri, Imo State, on the sidelines of the presidential inauguration of three critical gas infrastructures in Delta and Imo States.

He said the administration of Mr Bola Tinubu was ensuring a conducive environment for businesses to thrive in the country.

President Tinubu on Wednesday inaugurated the ANOH-OB3 CTMS gas pipeline and ANOH gas processing plant in Assa, Ohaji/Egbema in Imo. He also inaugurated the expansion of the AHL gas processing plant 2 gas project in Kwale in Delta.

The projects are being undertaken by NNPC Limited and partners in line with Tinubu’s commitment to significantly leverage gas to grow the economy.

“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 making 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 some other floating LNG projects that are now ongoing,” he said.

According to Mr Kyari. the inauguration of the various infrastructure is evidence of a gas revolution in play.

According to Kyari, “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 for 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.”

Mr Kyari also 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, ” he said.