Nigeria's President, Goodluck Jonathan, has pledged to create more jobs as well as  fast track the industralisation of the nation through a gas revolution.

The president made the pledge on Thursday in Abuja at the launch of  the gas revolution entitled: "Gas Revolution: Rebirth of Nigeria’s Industrialisation.’’

Expected impact

President Jonathan said that the event marks the beginning of a fulfilling journey toward the restoration of Nigeria into the league of nations which have successfully leveraged on the advantage derivable from the abundant natural gas.

He said that the government would use the initiative to positively impact on the lives of present and future generations of Nigerians.

Jonathan  said that the project would result in direct foreign investment of about 10 million dollars in the next three years while the full implementation would bring  about 25 million dollars’ worth of investment into  the gas processing and transmission sector.

According to him, 500,000 direct and indirect jobs will  be created from  industrialisation in the sector.

Food security

He said that the construction of petrochemical, fertiliser and methanol plants as well as  an LPG distribution plant would stimulate economic growth and ensure food security.

The president, who stressed government's commitment to ending gas flaring, said his administration's vision was to make Nigeria an undisputed regional hub for gas based industries  by 2014.

The Minister of Petroleum Resources, Mrs Diezani Alison-Madueke,  said that the government would ensure adequate network of gas pipelines across the country to facilitate industrialisation.

Investment opportunities

She said the ministry had assembled a crop of investors from Saudi Arabia, India, Italy and Nigeria with proven record to carry out the project.

The  NNPC  had signed a Memorandum of  Understanding with Nagarjuna Group, India, and Xenel Industries Ltd., Saudi Arabia.

At the event, the Group Managing Director of  NNPC, Mr Austen Oniwon, presented an award of  Central Franchise Area (CPF) to Oando and Agip oil companies.

Nigeria presently produces about one billion cubic feet of gas daily with a planned 10 billion cubic feet per day by 2020.

 

NAN/Williams