Dele Kelvin Oye, the National President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has expressed his heartfelt appreciation for the monumental $7 billion deal inked to boost gas utilization in the country.
Speaking enthusiastically, Oye stated, “NACCIMA commends Indorama Eleme Petrochemicals Limited and the Nigerian National Petroleum Corporation (NNPC) on the successful signing of the Memorandum of Understanding (MOU) worth $7 billion to promote gas utilization in Nigeria. This momentous MOU is a result of the recent business roundtable held on the sidelines of G20, led by President Ahmed Bola Tinubu GCFR, with NACCIMA in attendance in India.”
The significance of this achievement cannot be overstated, as Nigeria possesses abundant gas reserves, and this partnership signifies a proactive step toward tapping into this valuable natural resource.
Indorama’s petrochemical factory alone consumes about 100 million standard cubic feet of gas per day, powering their fertilizer and petrochemical plants in Nigeria. This agreement is poised to inject vigor into the nation’s economy and pave the way for countless employment opportunities for Nigerians.
Oye continued, “Furthermore, we applaud Indorama for pledging an additional $7 billion investment in Nigeria. This commitment will be a driving force behind the nation’s industrialization, ultimately leading to a more robust economy. It underscores Indorama’s dedication to contributing significantly to Nigeria’s economic growth, and for this, we commend them.”
Nigeria, long recognized for its gas reserves, is now taking tangible steps to harness these reserves to their maximum potential. Oye voiced his hope that other private companies will follow Indorama’s lead and invest in the country’s gas sector.
In his closing remarks, Oye reiterated, “NACCIMA commends Indorama, NNPC, and Mr. President for their unwavering commitment to promoting gas utilization in Nigeria. We also encourage other private companies to emulate Indorama and invest in the country’s economy, thereby creating more job opportunities for Nigerians and contributing to the country’s overall development.”
The $7 billion gas deal, celebrated by NACCIMA, stands as a testament to Nigeria’s potential to capitalize on its natural resources, propelling the nation toward a brighter and more prosperous future.