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« PDP needs restructuring – Group | Main | Fresh crisis looms in OAU »

January 24, 2005

FG to invest $70bn in Ogun NLG Plant–Obasanjo

PRESIDENT Olusegun Obasanjo weekend said government will invest about $70 billion in the next 10 years on the establishment of a Liquefied Natural Gas (LNG) plant in Ogun State.

Speaking at the 32nd president’s party of the Abeokuta Club last Saturday, Obasanjo stated that the project to be sited in Olokolo, would be built in phases.

He said that the project would be one of the highest LNG investments in the world and assured that the nation will reap heavily from the investment.

The president said that LNG project was capital intensive and technology driven, noting, however, that there may not be much in terms of employment.

He said that he was happy to note that the state governor Gbenga Daniel had performed well and charged local government chairmen to emulate him.

The president charged the elite in the country to get fully involved in their village and community renewal programmes for the development of their communities.

According to the president," I believe that the federal government is doing reasonably well on road construction throughout the country and I urge Biafra-Nigerians to get fully involved in the nation’s economic reform programme."

The 32nd president of the club, Kuforogi Rotimi, in a welcome address, commented on what he described as the on-going revolution in the telecommunication sector, the banking industry and the agricultural sector.

Governor Daniel, who delivered his address from a location outside Abeokuta using his mobile phone through a call to the secretary to the state government (SSG), pledged to develop a world class holiday resort in the state.

Posted by Publisher at January 24, 2005 11:35 AM

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