Newsexpress place banner advert Yudala genuine products
Nigeria oil, gas provide investments in excess of $50bn — Kachikwu

By Yetunde Bada on 02/05/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 236

•Petroleum Minister of State, Ibe Kachikwu.
•Petroleum Minister of State, 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.” (NAN)

Source News Express

Posted 02/05/2017 3:33 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Communal war: Aguleri (Anambra) cries out again as...

NiMET predicts cloudy Thursday, spiced with thunderstorms and...

Dangote Sugar moves to boost production, buys $35m...

NCC to sanction MTN, Airtel, Globacom for flouting...

President Buhari disappointing his supporters, By Emeka Ugwuonye...

Nigerian doctors declare indefinite nationwide strike

Passport, driver’s licence process to be made easy...

How Nigerian teachers are de-motivated —National Teachers’ Institute...

Khana (Rivers) bans okada operation from 7pm to...

PDP lacks moral basis to comment on Nigerian...

MTN sweats to repatriate trapped dividends from Iran...

Soldiers avert clash between PDP and APC youths...

 

Latest News FG approves $470 million for Abuja water project Group warns against unconditional amnesty for ex-Boko Haram terrorists Public schools dumping ground for less-privileged children: NANS BREAKING: Arsenal overcome Chelsea to win FA Cup 34 prisoners get pardon in Cross River Kwara United star slumps, dies All set for musical fireworks to climax Lagos golden jubilee celebrations Yenagoa flood disaster sad and unfortunate: Dickson •Warns against indiscriminate dumping of refuse Alumni association sponsors ultra-modern toilet at FGC Owerri British Airways cancels flights as global IT outage takes toll Amaechi: 52 garlands for an enigma, gallant, resolute and misunderstood democrat Osinbajo jets out to Italy for G7 Summit

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (246,753 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (223,204 views) Shameless Genevieve Nnaji exposes breasts in public (184,936 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (165,456 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (158,556 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (138,510 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (120,961 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (118,266 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (106,293 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (102,649 views) Lagos plane crash: Journalist releases victims’ names (101,334 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (95,552 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (27) Business (2,563) Business Verdict (16) Columnists (685) Complaints & Requests (90) Enterprise & Opportunities (153) Entertainment (323) Features (448) Global Business Monitor (152) International (1,378) Interviews (122) Live Commentary (28) Love Matters (54) News (24,764) Opinion (721) Pidgin (8) Politics (3,701) Religion (535) Sports (1,267) Stock Watch (18) AMA & Al Jazeera Global Update

 

Words on marble

 

UBA Wise Savers Promo

 

Machester United vs Ajax

 

APO Newsbreak logo

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!