FG revives $20bn Niger Delta gas project

The Federal Government has revived the Gas Revolution Industrial Park (GRIP) project worth $20 billion designed to improve gas supply to major electricity turbines in the country The project, which was started in 2014, is located in Ogidigben, Delta State under a Public Private Partnership arrangement.

The project, tagged Gas Revolution Industrial Park, is envisaged to be a regional hub for all gas-based industries and covers 2,700 hectares with fertiliser, methanol, petrochemicals and aluminium plants located in the park that has already been designated as a Tax Free Zone.
Speaking yesterday at the Presidential Villa while meeting with international developers and investors of the project, Acting President Yemi Osinbajo stated that the revival of the project was part of the present administration’s commitment of engaging with oil communities in the Niger Delta with the view to restoring peace.

Osinbajo stated that the Buhari administration “is committed to the development of the Niger Delta, and the importance of this project is underlined by the presidential attention it is attracting. The presidency is very interested.”
As a follow-up on the Niger Delta trips, Osinbajo, alongside the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu; the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru and other top government officials met yesterday with a group of international investors and developers put together under a consortium by Dubai-based firm, AGMC.
“Under the plan presented by the consortium to the Acting President, about $20 billion would be invested to develop the Gas Revolution Industrial Park, and generating 250,000 direct and indirect jobs in the process.
“The industrial park would be a cluster for several industries in one location benefiting from an efficient, cost-competitive and abundant supply of natural gas, proximity to a deep sea port and centralised utilities and services such as uninterrupted power, world class telecommunications and processed water,” Senior Special Assistant to the acting President on Media and Publicity, Laolu Akande, said in a statement yesterday.
According to Osinbajo, “We take the project very seriously and glad to see you are committed and ready to make several other commitments. This is a process that we intend to see happen.”
Leader of the group of investors and developers, Sheik Mohammed Bayorh, had earlier expressed the commitment of the consortium and explained that the project is important to solving the Niger Delta crisis.
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