The Nigeria National Petroleum Company (NNPC) Limited and NIPCO Gas Limited, have signed a gas infrastructure agreement with the Lekki Free Trade Zone Development Company (LFTZDC).
The agreement will enhance gas supply to industries in the Lekki corridor of Lagos State, according to a statement by NIPCO’s AGM, Corporate Affairs, Lawal Taofeek.
The historic deal will also enable NIPCO Gas to put in place necessary infrastructure in the corridor towards facilitating easy access to gas by industries in the zone and its environs, the statement said.
Managing Director, NNPC Gas Marketing Limited (NGML), Justin Ezeala, was quoted as describing the initiative as a milestone in the annals of gas infrastructure development in Nigeria, adding that LFZDC is a beautiful bride with many suitors willing to partner with in the development of the zone.
Ezeala noted that as the dominant gas company in Nigeria, it was expedient for NNPC Gas Marketing to partner with the free zone development company to market and distribute gas in the corridor.
“We knew the gas business revolves around us and that we could deliver seamlessly to the myriad of industries in the zone
“We came into gas business development in the zone with a big renowned player, NIPCO Gas that is noted for its giant strides in gas marketing and infrastructure development to enhance gas value,” he declared
Ezeala said NNPC Gas came into business with LFZDC with extra value alongside its partner – NIPCO Gas, a fully-owned subsidiary of NIPCO Plc, reputed for its consistency in gas infrastructure upgrade.
“NIPCO has exhibited giant efforts in pipeline construction and penchant for customer collections. We have worked together for years and they remained one of the consistent partners of ours,” Ezeala added.
He informed that he had inspected the equipment brought in by NIPCO, saying with the signing of the agreement, NNPC Gas would encourage its partner to move to site for quick execution of the project.
“We are proud to be associated with NIPCO in view of their antecedents in gas infrastructure development. We have trust in them and look forward to the commissioning of the project,” he added.
The agreement will be a boost for proper harnessing of Nigeria’s natural gas resource and a major reduction in fuel importation and attendant subsidies.
Development of the Zone
In his remark at the occasion, the Managing Director, NIPCO Gas, Najendra Verma, said the agreement with LFZDC in partnership with NNPC Gas will attract more industries to set up their facilities within the zone, which will ultimately help many companies to fast track development of the Zone.
According to him, the project when completed will boost industrialization and employment opportunities in the Zone, and the economy at large.
Verma noted that the agreement will be a boost for proper harnessing of Nigeria’s natural gas resource and a major reduction in fuel importation and attendant subsidies.
He commended NNPC Gas for making NIPCO the preferred partner for the execution of the landmark project.
Similarly, LFTZDC Managing Director, Dai Shunfa, said the project will help the company greatly in executing its mandate of developing and operating a modern free zone in accordance with international standards to stimulate the Nigerian economy.
He said about 110 industries have registered in the Zone with 55 already on ground to benefit from the new deal.
