The Niger Delta Youths Coalition for Peace and Progress (NDYCPP) on Tuesday applauded the Nigeria Liquefied Natural Gas (NLNG) for its involvement of Nigerians in its Train-7 expansion project.
Mr Tiedor Olayinka, President of the coalition, made the commendation in an interview with the News Agency of Nigeria (NAN) in Yenegoa, the Baylesa capital.
Olayinka was speaking against the backdrop of the assurances by NLNG’s Managing Director, Mr Tony Attah, that the firm was banking on Nigerian firms to execute the NLNG Train-7 project.
Attah had on Nov.22 in Port Harcourt, at a public workshop entitled: “Nigerian Content for NLNG’s Train 7 Development,” given the assurance that the Nigerian Content policy would drive the project.
According to Attah, the project will be delivered with full participation of competent Nigerian companies in compliance with the Federal Government’s Local Content Act 2010.
The NLNG Train-7 is a gas production expansion project located in Bonny Island in Rivers and valued at over 7 billion dollars.
The firm is hoping to increase its gas production capacity by 35 per cent from 22 million tonnes per annum (MTPA) to 30 million MTPA.
Olayinka noted that the policy of involving Nigerians in the multibillion dollar project would provide business opportunities for the skilled youths in the Niger Delta region.
He said that the Train-7 project would increase the nation’s gas exports and influence in the world energy market and place Nigeria amongst the top three gas exporting nations.
He said that gas was increasingly being preferred as one of the cleanest fuels, noting that expanding production would guarantee a steady source of revenue for government
“We in Niger Delta Youth Coalition for Peace and Progress received the news by NLNG MD with enthusiasm.
“This will be a lifeline to most oil and gas entrepreneurs who have remained idle due to the lull in the sector.
“We applaud the NLNG led by Mr Tony Attah, Nigerian Content Development and Monitoring Board led by Mr Simbi Wabote and Dr Ibe Kachikwu, Minister of State for Petroleum.
“Under Wabote, the real capital retention in the industry by patronising Nigerian made components was pushed from about 10 per cent to 30 percent.
“He has also rolled out an ambitious plan to hit 70 per cent.
“It should be noted that these three Niger Delta sons have worked silently and turned things around in the oil and gas sector and implemented reforms that pulled the country out of recession.
“The role played by NLNG in the heat of the recession by boosting government’s revenue saved the country from distress and this was due to the expertise of the management led by Attah.
“We wholeheartedly welcome the invitation to participate in building the NLNG Train-7, and we are following up with a business roundtable on the project to be held in Bonny Island.
“We are mobilising oil and gas entrepreneurs for the roundtable and we strongly believe that these three accomplished experts, Kachikwu, Wabote and Attah, would mentor and inspire our youths.
“To us, hosting these oil and gas industry icons in Bonny would provide the youths with success tips and nuggets to uplift their businesses and enhance their competitiveness when bidding for contracts.
“The decision to ensure participation of host communities in the LNG Train-7 project will enhance security and success of the project,” Olayinka said. (NAN)