Hon. Ikenga Ugochinyere, representing Ideato North/South federal constituency of Imo State in the House of Representatives, has urged the government to increase support for Nigeria Liquefied Natural Gas (NLNG) and the Dangote Refinery to address the nation’s energy sector challenges.
As the chairman of the House Committee on Petroleum Resources (Downstream), Ugochinyere made this appeal during a recent Energy Retreat held in Abuja. He stressed that strengthening these key industry players is essential for resolving Nigeria’s ongoing energy crisis.
“NLNG and the Dangote Refinery are at the forefront of our nation’s energy sector. Their success is not just a testament to their operational excellence but also a beacon of hope for solving our energy challenges. The government must extend its full support to these entities to ensure their continued growth and contribution to our economy,” Ugochinyere emphasized.
Highlighting NLNG’s significant role, he noted, “NLNG has been a cornerstone of Nigeria’s energy landscape since its establishment in 1989.
The company accounts for approximately 7% of the global LNG supply, having exported over 5,000 cargoes to diverse international markets. In 2022, NLNG generated an impressive revenue of around $10 billion, significantly bolstering Nigeria’s foreign exchange reserves.”
Regarding the Dangote Refinery, Ugochinyere remarked, “The Dangote Refinery, poised to become the world’s largest single-train refinery, represents a transformative force in Nigeria’s downstream sector. With a refining capacity of 650,000 barrels per day, the refinery is designed to meet Nigeria’s domestic fuel needs and reduce reliance on imported petroleum products.
The project has attracted an investment of over $15 billion and is anticipated to save Nigeria up to $10 billion annually in foreign exchange.”
Ugochinyere concluded by stressing the broader significance of supporting these projects: “By providing the necessary backing, we can ensure the sustainability and growth of NLNG and the Dangote Refinery. This is not just about economic gains; it’s about securing our energy future and driving national development.”
