Business & Economy - National - News - Oil & Gas - November 28, 2022

NNPC, NIPCO Gas sign deal on Lekki FTZ gas infrastructure development

By Bassey Udo

The Nigeria National Petroleum Company Ltd and NIPCO Gas Limited have signed an agreement for the development of a gas infrastructure with the Lekki Free Trade Zone Development company (LFZDC).

The agreement would
enhance the supply of gas to industries in the Lekki corridor of Lagos State.

The historic deal would enable NIPCO Gas Limited to put in place necessary infrastructure in the corridor to facilitate easy access to gas by industries in the zone and its environs.

Managing Director, NNPC Gas Marketing Limited, Justin Ezeala, who spoke at the signing ceremony said the event was a significant milestone in the annals of gas infrastructure development in the country.

He described Lekki Free Zone Development Company (FZDC) as a beautiful bride with many suitors willing to partner with in the development of the zone.

Ezeala said with NNPC Gas Marketing as the dominant gas company in Nigeria, it was expedient for NIPCO to partner with the free zone development company to market and distribute gas in the corridor.

“We knew the gas business revolves around us and that we could deliver seamlessly to the myriad of industries in the zone

We came into gas business development in the zone with a big renowned player, NIPCO Gas that is noted for its giant strides in gas marketing and infrastructure development to enhance gas value”, he said.

Ezeala said NNPC Gas Marketing came into business with LFZDC with extra value alongside its partner, NIPCO Gas, a fully owned subsidiary of NIPCO Plc, noted for its consistency in gas infrastructure upgrades.

“NIPCO has exhibited giant efforts in pipeline construction and penchant for customer collections. We have worked together for years and they remain one of our most consistent partners,” Mr Ezeala noted.

After inspecting the equipment brought in by NIPCO, he said with the signing of the agreement, NNPC Gas Marketing Limited would encourage its partners to move to site for quick execution of the project.

“We are proud to be associated with NIPCO in view of their antecedents in gas infrastructure development. We have trust in them and look forward to the commissioning of the milestone project,” he added .

NiPCO Gas Limited Managing Director, Najendra Verma, said the agreement with LFZDC in partnership with NNPC Gas Marketing Limited was certainly going to attract more and more industries to set up their facilities within the zone.

This, he said, would ultimately help many companies in the development of the zone in an exponential manner.

The project when completed would boost industrialization and employment opportunities in the zone, and in turn would facilitate the growth of the country’s economy.

Verma pointed out that the agreement would boost the proper harnessing of Nigeria’s domestic gas and a major reduction in fuel importation and attendant subsidies

He commended NNPC Gas Marketing firm for making NIPCO the preferred partner in the execution of the landmark project.

In the same vein, LFZDC Managing Director, Dai Shunfa, said the project would help the company greatly in executing its mandate of developing and operating a modern free zone in accordance with international standards to stimulate the Nigerian economy.

The AGM Corporate Affairs of
NIPCO quoted Shunfa as confirming that no fewer than 110 industries have registered to set up in the zone, with 55 already on ground to benefit from the new gas deal.

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