Nigeria Frontier Markets

Wike, Nigerian governor, breaks ground for new gas company in Akwa Ibom, says Niger Delta safe for business

May 27, 2021922 views0 comments

 
 
 
Ben Eguzozie, in Port Harcourt
 
Nyesom Wike, governor of Nigerian oil-rich Rivers State, while breaking the ground for construction of a new gas and fertilizer company at the Akwa Ibom Free Trade Zone, says the Niger Delta region is quite safe for business; lashing out at those propagating a conspiracy theory that the oil-rich belt was unsafe as “the real enemies of the oil-rich region.”

 

The Giwa Gas Free Zone Enterprise gas and fertilizer project at Okoroinyong village, Eastern Obolo local government area of Akwa Ibom State, is the latest project springing up at the newly created Free Trade Zone.
Chairman of Sterling Energy and Exploration Production Limited, Tony Chukwueke said the gas and fertilizer project will be the second largest in the country when completed.
Nigeria has at least 34 FTZs, with only 17 of them active. Recent moves by the federal government to remodel the FTZ scheme has drawn the ire of the investors who are mainly private sector direct investors. They have threatened to divest from the scheme, which would render billions of dollars lost, sending thousands of workers into the unemployment market already strained by 33.3% national unemployment rate.
Governor advised oil and gas companies operating in the Niger Delta region to always be mindful to implement the local content policy in order to foster cordial relationship with their host communities.

 

He noted that if Akwa Ibom State is not safe there is no way any prospective investor will conceive the idea of building a gas and fertilizer plant in the State. “If Akwa Ibom State is not safe, will investors come here? Investors are here, because the Governor, Udom Emmanuel, has provided an enabling environment that gives confidence to the investors,” Wike said.

He lauded the management of Giwa Gas FZE for the decision to invest in Akwa-Ibom and  by extension, the Niger Delta.

He commended Governor Emmanuel for attracting investors to his state, expressing optimism that the gas and fertilizer project will not only transform the economy of Akwa Ibom State but will create employment opportunities for the people.

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Akwa Ibom, with over $18 billion GDP economy, is by far the biggest earner from oil receipts from the Federation Accounts Allocation Committee (FAAC).
The government urges the Giwa Gas FZE and other investors doing business in the State to comply with the local content law in order to earn good business operation in their host communities.

The Akwa Ibom State governor said the entire area where gas and fertilizer project is located will be transformed to an industrial hub, while the swampy area will be used to plant coconut that will feed a planned coconut refinery.

He urged the youths of the State to develop their capacity in order to take advantage of the tremendous opportunities that the industrial hub will offer.

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