Gas development key to Nigeria's economic growth
Nigeria’s economic growth is hinged on the development of its abundant natural gas resources, Group Managing Director of the NNPC, Engr. Andrew Yakubu has stated.
Engr. Yakubu disclosed this during a Combined Opening Ceremony of the 073-079 batches of the Chief Officers’ Management Development Programme (COMDP) at the NNPC headquarters in Abuja, Thursday.
“Without any doubt, harnessing our gas resources will bring about an unquantifiable value to our economy. Talk about our power aspirations, job creation and entrepreneurship, gas is the real stimulant for our economic growth and development,” Engr. Yakubu stated.
The GMD further observed that the NNPC is fully committed to the actualization of the Federal Government’s Gas Revolution Agenda particularly with the opening up of several gas-based industrialization programmes across the country.
“The Gas Industrial Park Complex at Ogidigben in Delta State is a pointer in that regard as it will house a petrochemicals plant, a fertilizer plant, an IPP and a Central Processing Facility (CPF),” he said.
According to Engr. Yakubu, the complex would stimulate several gas-based industrialization initiatives across the country, with robust multiplier effect that will significantly generate employment and positively impact the gross domestic product of the nation.
In his paper titled: “Gas Commercialisation and Nigerian Economic Growth: Issues and Challenges,” the Lecturer at the occasion, Professor Pat Utomi of the Lagos Business School emphasized the need to utilize the nation’s abundant gas resources to create a plethora of opportunities for Nigerians, especially in the gas value chain.
He said: “Nigeria’s hope is in gas. Nigeria’s gas value chain has to be the key driver of our economy going forward. In this regard, we must marry our gas commercialization initiatives with the right policies.
Utomi charged the course participants to be “rapid learners of the rapidly changing business environment of oil and gas” so as to help the NNPC realize its full potentials.
The COMDP is an intensive, 7-week programme which has over the years, proven to be a veritable platform for the development of managerial and leadership talents and skills for the Corporation.
Now in its 24th year, the batches 073-079 comprise of 375 participants who were drawn from all Strategic Business Units (SBUs) of the entire Corporation.