President Goodluck Jonathan yesterday commissioned the N90billion Uquo Gas processing facility in Esir Eket in Akwa Ibom State and called on private investors to emulate initiatives that will add value to the nation’s economy.
The Uquo gas processing facility is the first wholly indigenous gas exploration and processing firm in Nigeria. Existing processing facilities were inherited from some of the International Oil Companies.
Jonathan said that initiatives like the Uquo gas facility is a good example of the ingenuity in Nigerians.
President Goodluck Jonathan yesterday commissioned the N90billion Uquo Gas processing facility in Esir Eket in Akwa Ibom State and called on private investors to emulate initiatives that will add value to the nation’s economy.
The Uquo gas processing facility is the first wholly indigenous gas exploration and processing firm in Nigeria. Existing processing facilities were inherited from some of the International Oil Companies.
Jonathan said that initiatives like the Uquo gas facility is a good example of the ingenuity in Nigerians.
He commended promoters of the gas processing facility for not only believing in themselves and creating opportunities for not only indigenes of Eket and its environs, but for taking a step to growing the Nigerian economy.
The President who was also accompanied by the Ministers of petroleum resources, Mrs Deziani Allison Madueke, Trade and Investment; Dr. Segun Aganga and Power; Prof Chinedu Nebo, commended the Akwa Ibom State Government for supporting the project.
Commenting on the gas processing facility, Managing Director of Frontier Oil, operators of the facility, Mr. Dada Thomas said that the facility is one of the best gas plant in Nigeria, adding that only the International Oil Companies can construct facilities like the UIquo gas processing facility.
Thomas disclosed that the Uquo gas plant is the biggest of its kind in Sub Sahara Africa saying that “we are very proud it.”
He said that facility will help to generate 750 megawatts to 1,000 megawatts of power adding that Akwa Ibom state has the most steady supply of electricity in Nigeria.
He said “You all know that Nigeria has not been able to generate more than 4,000 megawatts of power, this project by the end of the year will helping to generate another 750 to 1,000 megawatts of power. “Right now Akwa Ibom State has the most steady electricity supply in Nigeria
“The impact of that is that it means that the Hair dresser can run their salons without problem, the welders can work with out their generating sets, the multiplying effects are better imagined.
‘It means that the factories can carry on production, the offices can function all these have an impact on the ability of individual to produce.
Speaking in similar vein, Managing Director of Seven Energy, financiers of the gas processing facility, Mr. Philip Ihenacho said that the steady supply of power will naturally improve the quality of life.
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