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Business

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FG Highlights AKK Gas Pipeline’s Massive Impact on Economy, Industrialisation

R-L: Managing Director, NNPC Gas Infrastructure Company (NGIC), Engr. Seyi Omotowa; NNPC Limited’s EVP Gas, Power & New Energy, Mr. Olalekan Ogunleye; GCEO, NNPC Limited, Mr. Mele Kyari; Minister of Information & National Orientation, Alh Mohammed Idris; Deputy Governor of Kaduna State, Dr. Hadiza Sabuwa Balarabe; Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo; Minister of Finance & Coordinating Minister of the Economy, Mr. Wale Edun; Representative of the Chief Executive, NMDPRA, Mr. Francis Ogaree; CEO of Brentex CPP Limited, Mr. Howard Wang and Chairman, Brentex CPP Limited, Alh. Sani Nuhu during an inspection visit to the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project Camp in Dankande, Kaduna.

 

The Federal Government has highlighted the huge multiplier impact of the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project on the nation’s economic growth and industrialisation.

This was made known during the visit of three cabinet Ministers to the AKK Gas Pipeline Project Site where they inspected the River Kaduna crossing milestone of the project in Kaduna, on Friday.

This is coming just as the Group CEO of NNPC Limited, Mr. Mele Kyari assured Nigerians that the Project will be delivered by the end of first quarter 2025.

The three Ministers who visited the Project Site were: Minister of Finance/Coordinating Minister of the Economy, Mr. Wale Edun; Minister of Information & National Orientation, Mr. Mohammed Idris Malagi and Minister of State for Petroleum Resources (Gas), Rt. Hon Ekperikpe Ekpo.

Speaking at the project site, the Minister of Finance Coordinating Minister of the Economy, Mr. Wale Edun described the AKK Gas pipeline as the pipeline of prosperity, which is very dear to the President, because it will deliver the critical infrastructure needed to trigger the nation’s economic growth and industrialisation.

“The AKK Gas Pipeline is crucial for this administration and its delivery is in line with Mr. President’s strategy of bringing prosperity to the people,” Edun added.

In his remarks, the Minister of Information and National Orientation, Mr. Mohammed Idris Malagi said the AKK Gas Pipeline Project is a testimony to the fact that the Federal Government’s “Decade of Gas” has commenced in earnest.

“Nigerians should be proud of the AKK Gas Pipeline project. With the delivery of this project, the prosperity that Mr. President is always talking about is unravelling right here before our eyes,” he said.

Also speaking, the Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo said the gas pipeline is part of the Federal Government’s many efforts to harness the nation’s abundant gas resources towards improving power generation, revamping ailing industries and creating employment opportunities in the country.

 

Ekpo urged all stakeholders to support the NNPC towards delivering the project and several other gas projects as the country depends on it to bring prosperity to the people.

The three Ministers, who lauded the NNPC and its project partner, Brentex/CPP Limited (BCL) on the progress made so far, also expressed optimism that the NNPC will deliver as promised.

Earlier in his remarks, the GCEO, NNPC Limited, Mr. Mele Kyari assured the Project will be delivered by first quarter of 2025 as major segments of the job have been completed.

“Without promising too much, we assure you that this Project will be delivered on schedule. Our mission is to work towards delivering it by December this year. But we are confident this project will be delivered by 1st Quarter of 2025,” Kyari informed the three visiting Ministers.

The GCEO, who said the NNPC recognises the strategic importance and enormous value of the project to Nigeria’s economy, stressed that the Company was bankrolling the project on the back of its own balance sheet.

In his speech, the Governor of Kaduna State, Mallam Uba Sani, represented by his Deputy, Dr. Hadiza Sabuwa Balarabe, said the completion of the AKK gas pipeline will herald the much-needed economic and industrial revival in the state.

“If you know about the Kakuri Industrial Area and how most of our factories there have become moribund, you will understand why we in Kaduna State are all excited about the AKK Gas Pipeline. Without doubt, the pipeline will revamp our industries and bring about a huge impact on our people. We can’t wait for it to be completed,” the Governor added.

The Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline is a 40 inch by 614km linear pipeline system running from Akaojuta in Kogi State to Kano with associated intermediate, terminal gas facilities and other related equipment to transport natural gas to off-takers at Abuja, Kaduna and Kano.

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US Oil Import from Nigeria Down 67%

The United States decreased its oil import from Nigeria by 67 per cent in 2014, signaling growing economic pain and sustained pressure on foreign reserves, already down to $29.3 billion as at April 15, 2015, its lowest point since 2010. Figures from the US Department of Commerce suggest that U.S. total trade in 2014 (exports plus imports) with sub-Saharan Africa (SSA) also went down by 18 per cent to $52.1 billion compared to 2013. “In 2014, U.S. imports from SSA decreased by 32 percent, falling to $26.7 billion and representing only 1.1 percent of total U.S. imports from the world. This decrease was mostly due to a 51 percent decrease in U.S. mineral fuel and oil imports from SSA. U.S. imports from SSA originated, for the most part, from South Africa Nigeria, Angola, Côte d’Ivoire, and Chad,” the report says.

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