The Nigerian Content Development and Monitoring Board (NCDMB) has said that it has developed new strategies to improve investment partnerships in the sector.
Speaking at a media parley in Port Harcourt on Monday, the NCDMB general manager, corporate communication and zonal coordinator, Mr. Ginah O. Ginah, disclosed that the NCDMB has mapped out strategies to ensure that gas becomes Nigeria’s transition fuel.
Ginah recalled that President Muhammadu Buhari’s had declared that 2021 – 2030 was Nigeria’s Decade of Gas and had announced the federal government’s determination to fully exploit the nation’s abundant gas resources.
“Recall that President Muhammadu Buhari’s made a commitment at COP26 held in November 2021 at Glasgow that Nigeria will seek to achieve net zero by 2060, which means cutting greenhouse gas emissions to as close to zero as possible,” he said.
According to the NCDMB chief, the Board is partnering with credible investors to develop critical projects in the sector to take Nigeria towards the goal, and that in total, it has gone into partnership with 15 firms to set up projects covering modular refining, gas processing, gas distribution, power generation and manufacturing.
Some of the gas-based projects of the board include a partnership with Rungas to produce 1.2million LPG Composite cylinders per annum in Bayelsa and Lagos States.
NCDMB has collaborated with NEDO Gas Processing Company in Kwale, Delta State for the establishment of 80 million standard cubic feet per day gas Processing Plant and a 300 million standard cubic feet per day Gas Gathering hub.
“It is worthy of note that 70% of our investments are on gas-based activities, especially midstream and downstream gas. Our investments underscore the importance of gas to Nigeria’s economic sustainability, apart from its role in the energy transition.
“We know for certain that gas can lead Nigeria to food sufficiency, industrialization, increase in Gross Domestic Product, and electric power sufficiency.
“Above all, the investments by the NCDMB are helping to create employment opportunities for Nigerian youths, catalyse the local economy and achieve the Nigerian Content 10-Year Strategic Roadmap.
“The Board is also working with Duport Midstream to establish an Energy Park at Egbokor, Edo State. The park would include a 40 million standard cubic feet per day gas processing plant, 2,500 barrels per day modular refinery and 20 megawatts power plants. “The Board partnered with the NNPC to invest in Brass Fertilizer and establish 10,000 tonnes per day Methanol Production plant at Odioama, Brass, Bayelsa State, just as we are investing with Triansel Gas Limited in Koko, Delta State to establish a 5,000 Metric Tons per day LPG Storage and Loading Terminal Facility.
“Another important partnership is with Southfield Petroleum to establish 200 million metric standard cubic feet of gas processing plant at Utorogu, Delta State. The project will produce 123,000 Million Tons Per Annum of LPG, about 10 percent of current LPG demand nationwide.”
Ginah hinted that NCDMB is working on a collaboration with Amal Technologies to set up a plant in Abuja, to produce Smart Gas/Smoke Detector Alarm devices.