NLNG boss: Train 7 project will bring $10 billion foreign investment into Nigeria

The managing director of Nigeria Liquified Natural Gas (NLNG), Anthony Attah, said the Train 7 project will stimulate inflow of about $10 billion foreign direct investment (FDI) into the country.

 

Attah said this on Tuesday at the groundbreaking ceremony of the project in Bonny Island, Rivers state.

 

He said the project will create 12,000 direct jobs in the community and additional 40,000 indirect construction jobs.

 

Attah noted that the project will increase NLNG’s overall capacity to 30 million tonnes per annum (mtpa) from the current 22 million mtpa, while further adding immense value to the nation and the people.

 

He said the project would also further the development of local capacity and businesses through the 100 per cent in-country execution of construction works, fabrications and major procurement.

Speaking at the event, Timipre Sylva, minister of state for petroleum resources, says the Train 7 project will reduce gas flaring and create jobs in the country.

 

In April, the World Bank had included Nigeria among the top gas flaring countries in the world.

 

Describing the company as a ”blessing to the nation”, the minister said that since NLNG became operational in 1999, the nation has recorded a drastic reduction in operational flare status from 65 percent to 12 percent.

 

”I boldly say that the ground breaking of Train 7 is a guarantee to every stakeholder of more dividends in terms of further reduction in gas flaring, more revenue to the nation and shareholders, more job opportunities especially at the construction phase and more social investments for the society.”