July 25, 2024
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OIL & GAS

Nigerian Government to Invest in Oil & Gas worth $6b

The Managing Director of the Nigerian federal government-owned Liberty Oil and Gas Free Zone Authority (OGFZA), Senator Tiijani Yahaya Kauru, said the agency in Akwa Ibom State will attract as much as $6 billion worth of investments to the zone in the next six years if the necessary infrastructure is put in place.

Kauru stated this when the Special Adviser to the President Bola Tinubu on Industry, Trade and Investment, Mr. John Ugochukwu Uwajumogu, and the management of OGFZA alongside the management of SPFL Gas and Petroleum Sub-zone, paid the Akwa Ibom State Governor, Pastor Umo Eno, a courtesy visit in Uyo, the Akwa Ibom State capital.

TheGuardian reports that Senator Kaura also expressed optimism that the zone would create over 1,000 direct/indirect jobs within the time frame.

Reiterating the authority’s support for the state government, Kaura called for the strengthening of the joint committee earlier constituted to resolve all land issues for the speedy take-off of the free zone project.

He informed the governor that a contract had been awarded for the building of office accommodation in the zone, as well as the construction of main access roads leading to the offices.

Responding, Governor Eno commended President Tinubu for providing incentives for the realisation of the project in the state, adding that the president’s unbiased approach to leadership indicates that development can be achieved, irrespective of the people’s differences.

Eno disclosed that his government has launched a 5-pillar agenda titled, “The A.R.I.S.E. Agenda” to serve as a blueprint to consolidate the achievements of the immediate past administration, and also to drive development to the grassroots, so that rural people can have access to basic amenities, including good roads, stable electric power supply, pipe borne water and healthcare facilities.

 

The governor disclosed that establishing OGFZA’s office in the region would attract more companies and investors to the state, stressing that there is a need for further engagement to have seamless working modalities for the smooth operation of the project.

He assured the delegate of the state government’s readiness to partner with OGFZA for the development of the zone because the state stands as the first beneficiary of the project.

Eno called on the authority to support the state in upscaling the Victor Attah International Airport.

Mr. Uwajumogu assured the governor of the Federal Government’s commitment to revive all the free trade zones in the country to attract investors and create new jobs across the country.

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