9 months ago
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Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo
Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, has assured investors in the Nigerian gas sector of the security and safety of their investments.
The minister stated this Wednesday while hosting top officials of Shanghai Huayi Energy Chemical Company Group of China and China Road and Bridge Corporation, who are investors in the Brass Methanol and Gas Hub Project in Bayelsa State.
Ekpo said the government would create an enabling environment for investors in gas, which is the country’s transition fuel.
The minister, who spoke against the backdrop of political risks and security often nursed by prospective foreign investors to Nigeria, described the Brass project as one critical project of the President Bola Tinubu-led administration.
According to Ekpo, Nigeria is open for investments and investors, particularly in the gas sector need to entertain no fear.
“The Federal Government is committed to developing Nigeria’s gas reserves through projects such as the Brass Methanol project which presents an opportunity for the diversification of Nigeria’s economy.
“It is for this and other reasons that the project has been accorded the significant concessions or support that it enjoys from the government. Let me, therefore, assure you of the strong commitment of our government to the security and safety of yours and other investments as we have continually done for similar Chinese investments in Nigeria through the years,” he added.
The former lawmaker tasked investors and contractors working on the project to double their efforts, saying, “I want to see this project running for the good of Nigeria and its investors.”
The leader of the Chinese delegation, Mr Zheng Bi Jun, said the visit to the country was to carry out feasibility studies for investments in methanol projects.
Also, the Managing Director of Brass Fertiliser and Petrochemical Limited, Mr Ben Okoye, expressed the optimism of partnering with genuine investors on the project.
The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, disclosed last year that as saying that the country’s 208.83 trillion cubic feet of gas reserve represents 33 per cent of Africa’s total gas reserves of 620tcf.
“Nigeria can be described as a gas-rich nation, ranking number one in Africa in reserves with a life index of 94 years,” he stated.
