February 1, 2023
Delta State Government has explained why it is investing N20 billion the UTM Offshore Limited Floating Liquefied Natural Gas (FLNG) project in Warri.
The N20 billion which is a loan the government is seeking from Fidelity Bank following an approval by the state House of Assembly, is an additional investment of 3% equity in the gas project.
Addressing journalists in Asaba, the state Commissioner for Information, Charles Aniagwu said the state stand to gain a lot from the investment.
Aniagwu said apart from yielding profit in the long run, the project would create employment for the people of the state as well as boost it’s internally generated revenue.