Dr. Emmanuel Ibe Kachikwu |
In his own words: “The Federal Government of Nigeria has launched a National
Economic and Growth Plan for the next four years. This is anchored on the
Nigeria Oil and Gas Roadmap among other sectoral roadmaps. This roadmap
presents exciting opportunities for financial and strategic partnerships in
excess of 50 billion dollars (about N1.58 trillion).
“About 13 billion dollars -17 billion dollars will go to
the upstream for the development of upstream gas fields with a total of 37.4
trillion cubic feet. Fourteen billion dollars -17 billion dollars will go to
the Trans-Nigeria gas pipeline project, gas revolution industrial park at
Ogidigben and three power plants for additional 3.2 GW capacity in the gas and
power sector”.
Dr. Kachikwu added that 2.5 billion dollars – 5 billion
dollars will be invested in licensing and establishment of modular refineries,
collocate refinery within Kaduna
Refining and Petrochemical Company (KRPC) and rehabilitating/upgrading the
three refineries.
He said: “In the downstream sector, about 3 billion dollars – 3.9
billion dollars will go to revamping of liquefied petroleum gas, building of
new Compressed Natural Gas plants across the country and to pipeline and
storage tank constructions. In addition, 0.7 billion dollars – 1 billion dollars
will be invested in ventures such as equipment leasing, development of
multi-specialist hospital and cancer diagnostic and treatment centres.”
He assured investors on President Muhammadu Buhari’s
stance that he would ensure that under his watch, the “old’’ Nigeria would
slowly disappear while a new era would arise.
He also assured them of security and the new ease of
doing business in Nigeria, adding that government had made progress on reforms
in the sector.
“Part of progresses made are the new policies and
regulations like the new oil, gas and fiscal policies that are being developed
and syndicated with all stakeholders and the Petroleum Industry Governance
Bill. The Bill will be passed by National Assembly before end of the second quarter.
“It also includes business environment and investment
drive, gas revolution including the gas flare commercialisation programme where
investors are invited to submit detailed project proposals by end of May. Private
sector-led revamp for refineries being pursued and framework for new Greenfield
refineries, including modular refineries in place, and Niger Delta security and
transparency and efficiency,” he said.
The minister said that the outcome of the meeting would
be aligned to projects and funding opportunities, preliminary discussion on
areas of potential collaboration and broad alignment on funding options.
The Executive Secretary of the NCDMB, Mr. Simbi Wabote, in his address said
that his desire was not to hold events but “to follow through on whatever
decisions are made from such meetings to ensure development eventually”.
(Guardian)
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