The Process and Industrial
Developments (P&ID), an Irish engineering company, says its proposed
project could have transformed millions of lives in Nigeria if the federal
government had not backed down on their agreement.
A British court had given
P&ID the fiat to seize Nigerian assets worth $9 billion.
This followed the non-execution
of a 20-year gas and supply processing agreement (GSPA) the company had with
the federal government.
But in a statement published by
PUNCH, the company said the project could have generated additional 2000
megawatts of electricity for Nigerians.
“We mustn’t forget the entire
reason for the P&ID contract in the first place,” the company said.
“It was to take waste gas that
was (and still is) being flared into the atmosphere – which is extremely
detrimental to the environment and to public health – and process this into
feedstock gas for the national grid at no cost to the Nigerian government.
“The P&ID project would have
generated up to 2,000 megawatts of power. Such a major increase in the
electricity supply brought by the P&ID project could have been
transformative for millions of Nigerians.
“At present, the World Bank
estimates that only 59 percent of the country have access to reliable supply of
electricity.
“The failure of the government to
supply the gas is a tragedy for all of those who could have benefitted from the
project – and a tragedy for the environment.”
Lai Mohammed, minister of
information, has described the agreement as dubious, saying the federal
government is confident that it will be upturned.
On his part, Abubakar Malami, minister
of justice, said all the people involved in the approval of the gas processing
deal with the Irish company will be prosecuted.
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