FG inaugurates CNG project in A’Ibom
By Sunday Bassey
The Federal Government has inaugurated the construction of Compressed Natural Gas (CNG) Mother Station project which has a capacity of 10 million standard cubic feet per day (MMSCF/D) in Akwa Ibom.
President Bola Tinubu conducted the groundbreaking of the project, owned by Nsik Oil and Gas Limited, on Thursday in Uquo Isi Edoho, Esit Eket Local Government Area, Akwa Ibom.
Tinubu, represented by the Minister of State for Petroleum Resources (Gas), Mr Ekperikpe Ekpo, said the project aligned with the Renewed Hope Initiative of his administration.
He said that the objective of the project was to promote cleaner and more affordable energy solutions.
He described the initiative as a game-changer which would not only boost Akwa Ibom’s economy but also significantly reduce dependence on petrol, and making gas a more accessible and cost-effective alternative.
Tinubu commended Nsik Oil and Gas for its bold investment, noting that “such private-sector-led initiatives are crucial to Nigeria’s energy transition goals.’’
He said that the Federal Government had prioritised investments in the gas sector, disclosing that over N222 billion had been released into the industry while another N400 billion would also be injected in two months’ time.
He said that the Federal Government was committed to ensuring that gas remained a key driver of economic growth and energy security.
The President said that when the project was completed, it would drastically lower gas prices, making it a viable alternative to petrol, which has surged to N900 per litre.
“By the time this project is completed, people will no longer queue to buy fuel at high prices; they will have access to a cheaper, cleaner energy source.’’
He urged the state and other entrepreneurs across the country to seize the opportunity as there was need for local investors to take charge of their economic growth.
Tinubu highlighted the employment potential of the project, assuring that it would create jobs for Akwa Ibom youths and beyond, thereby reducing the economic hardships caused by the removal of fuel subsidies.
He commended the oil and gas company for choosing Esit Eket as the project location instead of its CEO’s home local government, describing it as a selfless move that would spur balanced development across the state.
He urged the host community to provide a peaceful and conducive environment to ensure that the project thrived, adding that such large-scale investments required strong local support.
“This project will transform Esit Eket into an economic destination, attracting further investments and sustainable development,” he said.
In his remarks, the Chairman/CEO of Nsik Oil and Gas Limited, Mr Nsikan Johnny, expressed gratitude to the Federal Government, the Akwa Ibom State Government, and all stakeholders for their unwavering support.
He described the project as a bold step towards energy security and economic empowerment, emphasising that “it aligns with President Tinubu’s vision for a more sustainable and prosperous Nigeria.
“This project is not just about building a facility; it’s about creating opportunities, stimulating economic growth, and enhancing the quality of life for our people,”
Johnny further highlighted the transformative impact the CNG Mother Station would have on various sectors, including transportation, industries, and domestic energy consumption.
Mrs Inemesit Ikot, the Chairperson of Esit Eket LGA, pledged their support to the project but, however, made a strong case for employment opportunities for youths to curb restiveness. (NAN) (www.nannews.ng)
Edited by Jane-Frances Oraka
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