The Oyo State Government has disclosed that it signed a Memorandum of Understanding for the laying of gas pipeline infrastructure in the state with Shell Nigeria Gas.
This indication was given on Thursday by Governor Seyi Makinde.
Governor Makinde said shortly after the signing of the MoU that the partnership was an indication that the policies of his government would expand the economy of the state.
The governor, who described the project as timely, added tha it would aid the industrialisation drive embarked upon by the government.
The Gas Pipeline Infrastructure project is expected to be run on a Build, Operate and Transfer basis for 15 years.
The governor said, “Oyo State is open for business and we try to transact our business transparently. We allow our decisions and actions to be driven by logic and data. So, we know for a fact that Shell Nigeria Gas coming here. To extend the gas infrastructure to Oyo State is a decision that should have been taken a long time ago. I personally participated in the West Africa Gas Pipeline Project, and if it is good for Ghana, it should be better for Oyo State.
“Of course, this is a challenging period for us as a country and also for Oyo State, as the COVID-19 pandemic is still very much around. We are also faced with an economic meltdown. Is this a period to undertake a big project? I will say yes, because the pandemic is going to go away and there will be post COVID-19 activities. I think the timing is appropriate and I thank the management of Shell Nigerian Gas for being bullish about the economic potential of Oyo State.”
The SNG’s Managing Director, Ed Ubong, who signed for the company, said the drive would help to expand its economy.
Ubong, said, “Gas is the key to boosting industrialisation. I am proud that SNG is here. The vision of the governor is to see how we can rapidly industrialise the state and with a clear vision and support, we will get that done. We will do all we need to do to ensure we can realise the terms of this MoU.”
