Nigeria’s Government Unveils $20b Gas Plan

Nigeria’s Government Unveils $20b Gas Plan

Nigeria’s Acting President, Yemi Osinbajo, has unveiled a public-private partnership industrial plan valued at $20b for development of gas based industries in Nigeria’s Niger Delta region, Premium Times reported.

Tagged the Gas Revolution Industrial Park(GRIP), Osinbajo, according to his spokesperson, Laolu Akande, disclosed the industrialization plan at the State House in Abuja during his meeting with the project development partners, a consortium of fortune 500 companies including GSE&C of South Korea, the China Development Bank, Power China and several others global operators from Asia and the Middle East.

Osinbajo also said that the GRIP is located at Ogidigben, Delta State, and envisaged to be a regional hub for all gas based industries. He added that it sits on 2700 hectares with fertilizer, methanol, petrochemicals, & aluminum plants located in the park that has already been designated as a Tax Free Zone by the FG, Buzz Nigeria informed.

Mr. Osinbajo was quoted as saying: “we already have a Steering Committee in place, chaired by the Honorable Minister of State for Petroleum Resources and that shows the level of our commitment.”

Mahinaz El-Baz 317 Posts

Mahinaz El Baz received her MSc degree in Foreign Trade Economics from Helwan University in 2016. She has two years of experience in journalism and four years of experiance in economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.

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