President Bola Tinubu. Photo: State House
The Pan Niger Delta Forum has commended President Bola Tinubu over the signing of a 15-year gas supply agreement for the proposed UTM Floating Liquefied Natural Gas project.
The forum, in a letter by the National Chairman, Dr Godknows Igali, and addressed to the President, described the deal as a major milestone that would accelerate industrialisation and economic development in the Niger Delta.
The Wet Gas Sale and Purchase Agreement was executed by the NNPC/Seplat Energy Joint Venture and UTM FLNG Limited.
The agreement is expected to provide the gas feedstock required for the project and remove one of the major outstanding issues ahead of its Final Investment Decision.
PANDEF said the multi-billion-dollar project, which is to be located offshore Akwa Ibom State, would stimulate economic growth across the Niger Delta and the country.
According to PANDEF, the project would usher Nigeria into a new era of gas-based industrial development driven by indigenous companies, including UTM Offshore, Seplat Energy and the Nigerian National Petroleum Company Limited.
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The forum said the project would also serve as an inspiration to indigenous investors, noting that it is being spearheaded by Dr Julius Rone, whom it described as a relatively young entrepreneur from the Niger Delta.
It added that the construction phase would create employment opportunities in the short and medium term while stimulating other sectors of the economy.
“PANDEF considers your approval of this gas supply momentous as it will add significantly to the efforts which are at different levels to bring about the rapid industrialisation of the Niger Delta,” the letter stated.
The group further expressed optimism that the project would improve living standards in the region by increasing domestic gas availability, helping to moderate rising gas prices and reducing decades of environmentally harmful gas flaring.
It urged the Federal Government to continue supporting the project to ensure its completion within the planned timeline.
PANDEF also pledged to mobilise support from communities across the Niger Delta, particularly in Akwa Ibom State, to provide a peaceful and enabling environment for the project’s implementation and long-term operation.
