Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), stated the burgeoning potential of Nigeria’s gas sector to propel business revenue growth.
Speaking with the press on the sidelines of the presidential inauguration of three crucial gas infrastructures in Delta and Owerri, Kyari emphasized the important role gas plays in fostering economic prosperity.
President Bola Tinubu officiated the inauguration ceremony, marking the commencement of operations for the ANOH-OB3 CTMS gas pipeline and ANOH gas processing plant in Assa, Ohaji/Egbema, Imo state.
Tinubu unveiled the expansion of the AHL gas processing plant 2 gas project in Kwale, Delta state. These initiatives, undertaken by NNPC Ltd and partners, align with Tinubu’s commitment to harness gas resources to bolster the economy.
Kyari stated the favorable fiscal environment fostered by the current administration, emphasizing conducive laws and lower taxation that incentivize gas development. “Businesses can make more money from gas in this country,” he asserted. He also noted a surge in interest in investments in floating Liquefied Natural Gas (LNG) projects, signifying a promising trajectory for the sector.
The swift realization of these gas projects, according to Kyari, signifies Nigeria’s capability to translate its gas resources into tangible value. “Enormous resources are being channeled into the domestic market, providing gas for power, industries, and chemical production,” he explained. Kyari reiterated the potential for job creation, increased tax revenues, and overall economic growth spurred by the burgeoning gas sector.
Mohit Barot, the Managing Director of AHL, commended the president’s efforts in revitalizing the gas sector and enhancing the business environment. Similarly, Sen. Udo Udoma, Chairman of Seplat, pledged the company’s commitment to supporting the government’s drive for industrialization and economic growth.
