The Minister of State for Petroleum Resources Chief Timipre Sylva, says the upcoming integrated methanol and gas project would create 30,000 direct and indirect jobs in the country.
Sylva disclosed this at the signing ceremony of the Final Investment Decision (FID) on Gas processing and methanol plants project,by Brass Fertilizer and Petrol Chemical Company (BFPCL), in Abuja,on Friday.
Methanol also known as methyl alcohol is a light colourless and flammable liquid with a distinctive alcoholic odour, similar to that of Ethanol.
” In July,2020, President Muhammadu Buhari,who also doubles as a Minister of Petroleum Resources, approved the development of the Brass company with the sole aim of aggregating for the purpose of monetising all stranded has in the Brass area.
” This amounts to over 14 trillion cubic feet of gas to processing facilities to be built in the hub .
” Today,we are witnessing the FID of this work, the Brass gas hub,by the promoters of this laudable project. It is of strategic importance as it aligns with the mandate of the Ministry of Petroleum Resources on job creation.
“This project is expected to create 30,000 ,direct and indirect jobs during construction and about five thousand jobs during operations ” he said
Sylva expressed optimism that the project would have significant impact on the economy as it is expected to play a vital role in revenue generation and import substitution.
The Minister reiterated the federal government’s resolve to make gas the najor economic driver for the nation .
In his remarks, the Group Managing Director of the Nigeriian National Petroleum Corporation ( NNPC), Malam Mele Kyari, said the FID on gas processing and methanol plant project was the third most significant FID the Corporation had taken in the last five years
He explained that the fact that the FID was signed today on a project of that skill and magnitude with huge potential in future is a testimony of the commitment of the Federal Government to deepen domestic utilisation of gas in the country
Kyari said that the NNPC would ensure the realisation of the project including its sustenance and delivery adding that the project would take about three billion dollars in the first instance and create about 30,000 jobs during construction.
