… Uzoka-Anite seeks cheaper energy for manufacturers
African Development Bank (AFDB) and Shell Petroleum Development Company (SPDC)-Nigeria have expressed willingness to invest in the Nigerian Gas Infrastructure.
The commitment was extracted by Dr. Doris Uzoka-Anite, Honourable Minister of Industry, Trade and Investments, in two separate meetings in furtherance of her goal of attracting funding to gas infrastructure in industrial clusters across the country.
This commitment was established after Dr. Uzoka-Anite held separate meetings with the Chairman, SPDC -Nigeria, Osagie Okunbor and the Vice-President of the African Development Bank, Solomon Quaynor on Thursday 15th February, 2024 in her office.
During the meetings, she called on AFDB and Shell to support industrial clusters by investing in infrastructure necessary to reduce cost of production such as gas interconnectivity for cheaper energy.
The Honourable Minister expressed her ministry’s commitment to easing barriers and burden on local manufacturers and promised to focus on innovative ideas and solutions that can make local manufacturers regionally competitive, preparatory to the full implementation of the Africa Continental Free Trade Agreement ( AfCTA).
Following the proposition by the Minister, Shell expressed its readiness to invest in the gas projects in industrial clusters to support local manufacturers in Nigeria because the Nigeria’s domestic market was a key influence of its strategic decision to diverse from on-shore assets and focus on gas projects development.
The AFDB on it’s part, agreed with the Minister that an effective commodities exchange that can unlock the potential of the commodities value chain in Nigeria is invaluable and expressed readiness to explore the possibility of supporting the Nigeria Commodities Exchange (NCX) with technical assistance and funding for it’s capitalisation and seed fund.
