The Nigerian Content Development and Monitoring Board (NCDMB) celebrated a significant milestone as Nedogas Development Company Limited (NDCL) handed over a $1 million return on investment (ROI) during a visit to the Nigerian Content Tower in Yenagoa, Bayelsa State.
This contribution stems from NDCL’s successful project, the 300 MMscfd Capacity Kwale Gas Gathering (KGG) facility, constructed in collaboration with NCDMB. The KGG Facility, situated in Umusam Community near Kwale in Delta State, serves as a vital infrastructure for monetizing stranded gas resources in Nigeria’s OML56 oil province, providing independent operators with market access for their natural gas.
Embracing the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, NCDMB’s strategic investments, like the partnership with NDCL, aim to bolster local capacity and foster growth within the Nigerian oil and gas sector.
Expressing optimism, the NCDMB emphasized the potential for replicating NDCL’s success across other gas-producing communities to mitigate gas flaring, further underscoring the commitment to collaborative efforts.
Chairman of Nedogas, Emeka Ene, echoed enthusiasm for future collaboration, highlighting the tangible impact of NCDMB’s investments in driving economic growth and sustainability. The Nedogas project not only eliminates gas flaring but also transforms environmental pollutants into valuable products while establishing a crucial gas gathering hub for market accessibility, thereby contributing to Nigeria’s Gross Domestic Product (GDP) and supporting the Federal Government’s Decade of Gas program.
This partnership exemplifies one of NCDMB’s 15 strategic investments aimed at realizing key objectives in the oil and gas industry, aligning with national aspirations and fostering economic development. Notable third-party investments by NCDMB include modular refineries, LPG terminals, gas distribution networks, manufacturing plants, and methanol production facilities, all geared towards enhancing Nigeria’s energy landscape and promoting sustainable growth.