The Federal Government has announced immediate reduction in domestic base price of natural gas to power plant producers from $2.50 cent to $2.18 cent per standard cubic feet (scuf).
Minister of State for Petroleum Resources, Timipre Sylva, made the disclosure yesterday at the opening of the 2021 Gas Sector Stakeholders’ Forum for optimisation of the 614-kilometre $2.6 billion Ajaokuta-Kaduna-Kano gas pipeline in Kano.
Reiterating the current administration’s commitment to actualise its gas revolution agenda, especially in the northern part of the country, Sylva stated that the AKK project holds numerous opportunities for investors. The minister added that the move would equally resuscitate hundreds of moribund industries and manufacturing plants in Kano and Kaduna states.
While urging potential investors to embrace the business opportunities, particularly agriculture, leather and skin, textile the installation will be providing, the GMD charged governments of the affected states to find lasting solution to insecurity.
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