Nigeria To Launch Gas Revolution Plan – Minister

Nigeria to Launch Gas Revolution Plan – Minister

Nigeria is to formally launch its gas revolution plan on Thursday in the bid to fast track the industralisation of the country.

The Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, announced this in Abuja at a news conference.

She said once President Jonathan launched the gas plan, the government would be investing close to two billion dollars In the gas pipeline network in a bid to accelerate industralisation across the country.

Investment Agenda

Alison-Madueke said, the industrial investment agenda of the project would comprise a world class petrochemical plant, two world class fertiliser plants, five fertiliser blending plants, a methanol plant and an LPG distribution plan.

She explained that the fertliser plants would help develop the agricultural sector and the food processing industries as well as ensure food security and create job opportunities for the citizenry.

In her words,``the creation of over 500,000 jobs is estimated from this agriculture-related agenda as well as an attendant increase in the nation’s GDP’’.

``Mr President has a strong vision and passion to re-industrialise Nigeria, using the vast natural resources that the country is richly endowed with,’’ Alison-Madueke said.

According to her, the government’s plan will make Nigeria an undisputed regional hub for gas-based industries.

Value Added

With this new gas plan Nigeria could now boast of a net surplus in gas availability relative to the power sector requirements.

Expectedly, the 150mmcf/d surplus supply would add about 500mw to the current generating capacity on the national grid.

Alison-Madueke said that to achieve the Vision 20:2020, the government planned to have 2.5 billion cubic feet of gas supply specifically for the power sector and 10 billion cubic feet per day by 2020. 

NAN/Qasim/Ekata