BEVERLY HILLS, October 05, (THEWILL) – The Oyo State Commissioner for Energy and Mineral Resources, Seun Ashamu said the state government has signed a Memorandum of Understanding (MoU) with Shell Nigeria Gas (SNG), to attract investments and boost its economy.
The agreement was sealed by Gov. Seyi Makinde and SNG representative Mr Ed Ubong.
In a statement by the Chief Press Secretary to Governor,Taiwo Adisa said the MoU was part of efforts to increase the economic potentials of the state through the availability of gas, adding that the people of the state would benefit more from the agreement.
“The project is timely and it will aid the industrialization drive embarked upon by the government. And this will assist us to attract big businesses, aid in industrial development and also secure our state”, he added.
“An international company like Shell coming to Oyo State shows the ease of doing businesses, the investment potentials of the state, and the type of administration that the governor is running” he added.
Ashamu explained that “as part of the achievements of Gov. Makinde’s administration, the SNG will assist the state government to develop its gas master plan, which intended to cover the state and will be driven by demand, while the state will also benefit from a percentage of the revenue from gas sales. The SNG will carry Oyo State Government along in terms of employment and skill development, the project will create employment for the citizenry, provide more means of livelihood and also increase IGR of the state as a result of industrialization.”
He explained further that the agreement entails the provision of a Gas Pipeline Infrastructure Project to be run on a Build, Operate and Transfer basis for 15-years.
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