Nigeria plans to establish $20 billion gas industrial park in the Niger Delta following a renewed engagement with the local communities.
Acting President Yemi Osinbajo unveiled the plan during a meeting with international investors for the project at the Presidential Villa in Abuja on Monday.
The Gas Revolution Industrial Park (GRIP) is envisaged to be a regional hub for all gas-based industries.
The public-private partnership project will cover 2,700 hectares.
GRIP will also have fertiliser, methanol, petrochemicals and aluminium plants in the area already designated as a Tax Free Zone by the Federal Government.
Prof Osinbajo stated that the Buhari administration “is committed to the development of the Niger Delta, and the importance of this project is underlined by the presidential attention it is attracting’’.
“We already have a steering committee in place, chaired by Minister of State for Petroleum Resources, that shows the level of our commitment; we are unwavering.
“We take the project very seriously and glad to see you are committed and ready to make several other commitments," said Prof Osinbajo.
Before he went to London on a medical vacation, President Buhari mandated Prof Osinbajo to visit the oil-producing communities, to demonstrate the resolve of the administration to the pursuit of a new vision for the Niger Delta.
The investing consortium comprise several companies including GSEC of South Korea, the China Development Bank, Power China and several other global operators from Asia and the United Arab Emirates.
The GRIP project is envisages generating some 250,000 direct and indirect jobs.
The park, originally conceived by the Nigeria National Petroleum Corporation (NNPC), is located about 60km from Warri, and about 1km from the operational base of Chevron Nigeria Ltd.