FG plans $20bn gas industrial park in Niger Delta-Osinbajo

Osinbajo to speak at Lagos conference, Oct. 27

The Federal Government says it plans to establish N20 billion gas industrial park in the Niger Delta, following a renewed interactive engagement with oil bearing communities in the region.

The Acting President, Prof.Yemi Osinbajo, said this on Monday when some international developers and investors of the project met with him at the Presidential Villa.

Tagged the Gas Revolution Industrial Park (GRIP), Ogidigben, and envisaged to be a regional hub for all gas-based industries, the public private partnership project will cover 2,700 hectares.

It will also have with fertilizer, methanol, petrochemicals, and aluminium plants located in the park already designated as a Tax Free Zone by the Federal Government.

Addressing the investors, Osinbajo stated that the Buhari administration “is committed to the development of the Niger Delta, and the importance of this project is underlined by the presidential attention it is attracting.’’

He declared the presidency’s interest in the project.

The acting president said, “We already have a Steering Committee in place, chaired by Minister of State for Petroleum Resources,that shows the level of our commitment; we are unwavering.

“We take the project very seriously and glad to see you are committed and ready to make several other commitments.This is a process that we intend to see happen.”

Before he went on vacation, Buhari had mandated Osinbajo to visit oil-producing communities, to demonstrate the resolve of the administration to the pursuit of a new vision for the Niger Delta.

The building of an industrial gas hub in Ogidigben, Delta, was revived during the visit to the states.

The investing consortium comprised fortune 500 companies such as the GSEC of South Korea, the China Development Bank, Power China and several other global operators from Asia and the United Arab Emirates.

Under the plan presented by the consortium, about $20 billion would be invested to develop the Gas Revolution Industrial Park to generate 250,000 direct and indirect jobs.

The park, originally conceived by NNPC, is located about 60 kilometres from Warri, and about 1kilometre from the operational base of Chevron Nigeria Ltd.

It will be connected to over 18 trillion Cubic Feet of gas reserves in fields such as Odidi, Okan and Forcados, located within a 50-km radius.

The park will also be connected to Nigeria’s most dominant gas pipeline network-ELPS to enable supply of gas to and from the park.

In his speech at the occasion, Dr Ibe Kachikwu, the Minister of State, Petroleum Resources, expressed confidence that the GRIP would bring the much needed succour to the people of the Niger Delta.

The minister also said that the oil-producing states would benefit from the project.

Earlier, the leader of the group of investors and developers, Sheik Mohammed Bayo, stated the commitment of the consortium, adding that the project remained important to solving the Niger Delta crisis.

NNN.COM.NG is a portal where you can read latest Nigeria News from all Nigeria Newspapers such as such as Punch, Vangaurd, Daily Times, Thisday, Guardian, Nation, Leadership and more in one place. NNN aggregates Naija News and sort them according to their sources, category and relevance as a way of reducing the effort a news reader needs to put in to reading breaking news in Nigeria and across the world.