PRESS STATEMENT

27 DECEMBER 2019

A MOMENTOUS DAY FOR NIGERIA!

By sanctioning the construction of Nigeria LNG Limited’s Train 7 project, the Federal Government and shareholders have solidified a path toward the creation of thousands of jobs for our people, significant economic growth for our nation, and making Nigeria one of the world's largest providers of cleaner energy.

The announcement of the Final Investment Decision for Train 7 is a big breakthrough in a decade—long process fraught with uncertainty, obfuscation and danger to our economy.

NLNG’s expansion project is truly one of the most important and transformational projects in our country. It will bring $10billion of foreign investment for the Train and gas supplies, and enable over 30,000 jobs to be provided during construction.

I heartily congratulate the NLNG Shareholders (NNPC, Shell, Total and Eni), Board, Management and Staff for their untiring efforts and achievement of this significant milestone. It is a gratifying moment that they should be proud of. Kudos!

This is a significant achievement for Nigerian citizens; it is also a victory for President Muhammadu Buhari; a deserving reward for clear vision andunselfish leadership. It is also asign of confidence in this administration by International investors (Oil Companies, Banks and Financial Institutions).

The President conveyed his unwavering support for Train 7 (and more Trains!) during the NLNG Board courtesy visit to him in June 2015. I thank the Honorable Minister of State Petroleum (Chief Timipre Sylva) and his predecessor (Emmanuel IbeKachikwu) as well as the GMD (Mr Mele KoloKyari)and his predecessor (MaikantiBaru)and several of their staff, for actualizing that dream.

I also commendthe several Shareholders’ working teams, previous Management Teams since 2008 and many stakeholders (including General Yakubu Gowon, Chief Ernest Shonekan and Rt Hon Rotimi Amaechi, Former Governor of Rivers State) for their efforts and support over the years.

The unnecessary delay of this project in the past 10-years and deferment of the benefits (employment, revenue for country, etc.) and the unhelpful distractions, were unfortunate, and not one that previous leaders can be proud of.

Congratulations to Nigeria on this historic milestone.

Babs Omotowa.

(Immediate Past MD/CEO Nigeria LNG Limited).

https://moneyreport.com.ng/nlng-takes-final-investment-decision-on-10bn-train-7-project/