Dr Ibe Kachikwu |
Minister of State for Petroleum Resources, Dr Ibe Kachikwu,
said economic growth plan recently launched by Federal Government would provide
strategic and economic partnerships in excess of 50 billion dollars.
Kachikwu said this on Tuesday while wooing investors at an
event organised in Houston, U.S., by the Nigerian Content Development and
Monitoring Board (NCDMB).
He said: “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”.
He 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.
“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
stated.
Kachikwu 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 progress 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
0 comments:
Post a Comment