Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, has described the NesGas 50,000 Metric Tonnes (MT) Liquefied Petroleum Gas (LPG) depot as loaded with the prospects of bridging Nigeria’s growing energy demands, mitigating the environmental impact associated with traditional dirty fuels, creating massive employment opportunities for citizens while also boosting the overall growth of the economy.
Ekpo stated this yesterday while performing the groundbreaking ceremony for the project sited at the Oil and Gas Free Trade Zone, Onne, Rivers State.
The gas minister described Nesgas’s investment in the project as an incredible milestone in unlocking the country’s abundant gas potential to support cleaner, more sustainable energy sources and diversify the economy.
He said: “The private sector’s dedication to investing in infrastructure that will facilitate the storage, delivery, and consumption of clean energy is demonstrated by NesGas’s development of this 50,000 metric tons LPG and propane depot. In addition to the immediate environmental advantages, the construction of this depot promises to boost the local economy and provide over 100,000 jobs across the country. Employment opportunities will be created along the entire value chain, from construction to operation, promoting skill development and economic inclusion.”
Ekpo assured investors in the gas sector that the Federal Government was “aggressively working to establish laws and regulations that will guarantee transparency, draw in more funding, and provide an even playing field for all players in the market.”
According to him, the President Bola Tinubu-led administration was committed to fostering an atmosphere that will support the expansion of the gas industry.
“As the Minister of State for Petroleum Resources – Gas, I am here to support the growth of the gas industry in Nigeria, but I am also an official supporter of this cause. Nigeria is endowed with abundant natural gas resources, and it is our duty to harness this potential to drive the nation’s socio-economic development,” he added.
Speaking on the project, MD/CEO of Nesgas, Mr. Tunde Banjo, said the mission was to eliminate energy poverty in Africa through strategic investment in gas development initiatives and assets.
“As we embark on the groundbreaking of our latest project, the 50,000 metric tonnes LPG Onne depot, we are on a journey towards a brighter and more sustainable energy future for Africa,” he said.
The event also witnessed the signing of partnership and collaboration agreement deals between Nesgas and Gas360, Modern West Advisory and Hebron Gas Infrastructure Limited