The Nigerian Petroleum Development Company (NPDC) over 200 million standard cubic feet Integrated Gas Handling Facility (IGHF) at Oredo flow station Benin City, Edo State will be commissioned today.
The facility will be commissioned virtually by the Nigerian President Muhammadu Buhari.
NPDC, a subsidiary of the Nigerian National Petroleum Corporation (NNPC), will now become the largest supplier of natural gas to the domestic market.
Here are five things to know about the NPDC Integrated Gas Handling Facility (IGHF)
- The facility will contribute to 40% of the domestic gas requirement, thereby, reducing the importation of gas by Nigeria.
- By locally producing 40% of Nigeria’s gas requirement, the price of gas (cooking gas and the rest) tends to crash.
- Nigeria’s power supply could also improve by this facility – If operated at full capacity, the facility could provide gas resources that could generate as much as 3.2 million megawatts of electricity in about 25 years.
- A big boost to Nigeria’s economy – About N2.8 trillion-revenue is expected to be made in about 25 years as the project would contribute at least $300 million yearly, bringing revenue to about $7.5 billion (N2.8 trillion) at full output.
- The facility is in Edo, not Lagos. This means the project will ensure the easing of gas traffic in Lagos and other congested areas across the country.