NIPCO, Lekki Free Trade Zone Sign Gas Supply Agreement

A gas infrastructure contract between NIPCO Gas Limited and the Lekki Free Trade Zone Development business has been signed ( LFZDC ).

The arrangement would improve the flow of gas to the Lekki corridor’s industrial sectors in Lagos State.

The historic agreement would allow NIPCO Gas Limited to build the required infrastructure in the corridor to make it easier for businesses in the zone and its surroundings to receive gas.

Speaking at the signing ceremony, Mr. Justin Ezeala, Managing Director, Nigerian National Petroleum Company Limited, NNPC Gas Marketing Limited, described the LFZDC as a beautiful bride with many suitors willing to partner with in the development of the zone. He described the event as a milestone in the annals of gas infrastructure development in the country.

The major gas company in Nigeria, NNPC Gas Marketing, said it was practical to collaborate 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.

According to Ezeala, NNPC Gas Marketing entered into a commercial partnership with LFZDC with NIPCO Gas, a completely owned subsidiary of NIPCO Plc, which is renowned for its consistency in gas infrastructure upgrade, as well as its partner.

The agreement with LFZDC in partnership with NNPC Gas Marketing Limited is undoubtedly going to draw more and more industries to set up their facilities within the zone, which will ultimately help many companies in the development of the zone in an exponential manner, according to NiPCO Gas MD, Mr. Najendra Verma, who spoke at the event.

When the project is finished, he claims, it would increase employment prospects and industrialization in the region, which will greatly help the nation’s economy.

Verma emphasized that the agreement will help Nigeria properly harness its local gas and significantly reduce the amount of gasoline it imports and the associated subsidies.

He applauded NNPC Gas Marketing for choosing NIPCO as their preferred partner in carrying out the historic project.

Source: Oriental News Nigeria.

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