Cyril Okonkwo, Abuja.
The Nigerian cabinet has approved over N3billion for the establishment of oil and gas parks in two states in the Niger Delta Region of the country.
The approval was given at Wednesday’s meeting of the Federal Executive Council presided over by President Muhammadu Buhari.
Minister of State for Petroleum, Timipre Sylva who briefed State House correspondents after the meeting said the parks would be established in Akwa Ibom and Bayelsa states.
“The oil and gas parks are to support the development and manufacture of oil and gas tools. As some of you know, in some countries, the service sector of the oil industry is sometimes even bigger than the oil industry itself.
“Unfortunately, in Nigeria, that sector has not grown so much. This administration is really committed to developing the service sector and that is why the oil and gas parks are being built,” he said.
Targets over 1000 jobs
Sylva said the proposed oil and gas parks would create over 1000 additional jobs in Nigeria’s oil and gas sector, which contributes the greatest percentage to the country’s Gross Domestic Product, GDP.
The minister said government also hoped that the establishment of the parks would address the issue of restiveness in the Niger Delta and improve security in the region.
He said the timeline for the establishment of the parts would be between 12 and 15 months.