Nigeria took a significant stride towards enhancing its energy infrastructure as officials unveiled the completion date and cost of the OB3 gas pipeline project during the ongoing 7th Nigeria International Energy Summit in Abuja.
The Minister of State for Petroleum Resources, Gas, Ekperikpe Ekpo, announced that the OB3 pipeline, a crucial component of Nigeria’s gas transmission system, is set to be completed by March 2024.
This milestone marks a substantial advancement in Nigeria’s journey toward becoming a gas-focused economy.
The OB3 pipeline, estimated to cost $700 million, stands as a testament to Nigeria’s commitment to bolstering its energy security and fostering economic growth through the development of critical infrastructure.
Stretching across 127 kilometers, the pipeline will connect the Obiafu-Obrikom gas plant in Rivers State to Oben in Edo State, facilitating the transportation of two billion standard cubic feet of gas per day.
The completion of the OB3 pipeline is integral to the success of the Ajaokuta-Kaduna-Kano (AKK) pipeline project, another vital initiative aimed at expanding Nigeria’s gas distribution network.
With progress steadily advancing on both fronts, Nigeria is poised to unlock its vast natural gas reserves, driving industrialization, and meeting the growing energy demands of its populace.
President Bola Tinubu’s administration’s decision to remove the petrol subsidy, despite its initial challenges, underscores a strategic shift towards a more transparent and sustainable energy sector.
The funds redirected from subsidy removal will be reinvested in developing critical energy infrastructure and implementing social intervention programs to mitigate the impact on vulnerable populations, ensuring equitable distribution of resources as Nigeria charts its course towards energy security and economic prosperity.