Oando, Shell, Agip sign $3.7b gas supply contract with NNPC

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…World Bank indicates: $30tr lost to poor girl-child education***

Oando Plc, Nigeria Agip Oil Company (NAOC), Shell Petroleum Development Company (SPDC), other indigenous and international oil companies in partnership with the Nigerian National Petroleum Corporation (NNPC) have signed agreement to implement gas projects worth $3.7 billion.

The gas projects tagged ‘Seven Critical Gas Development Projects (7CGDP)’ is set to bridge the gas supply shortfall in the country.

The 7CGDP is an integral part of the gas development strategy designed by the NNPC to leverage the full potential of gas to meet the target of generating at least 15 gigawatts (Gw) of electricity by 2020. The agreement includes the development of the 4.3 trillion cubic feet (TCF) Assa North/Ohaji South field, the development of the 6.4 TCF Unitized Gas fields (Samabri-Biseni, Akri-Oguta, Ubie-Oshi and Afuo-Ogbainbri) and the development of 7 TCF Nigerian Petroleum Development Corporation’s (NPDC) OMLs 26, 30 and 42.

Speaking at the event, the Chief Operating Officer, Oando Energy Resources, Dr. Ainojie Irune, said: “The company’s focus was to ensure that indigenous companies play an integral role in creating the new Nigeria; a Nigeria where as a result of our combined efforts we are driving industrialisation, driving the commercial use of gas, and ultimately creating and enhancing value for the nation.

In the meantime, the World Bank has said that limited educational opportunities for girls cost countries between $15 trillion and $30 trillion in lost lifetime productivity and earnings.

According to Missed Opportunities, a new World Bank report said less than two thirds of girls in low-income countries complete primary school, and only one in three girls completes lower secondary school. “ On average, women who have a secondary education are more likely to work and they earn almost twice as much as those with no education. Other positive effects of secondary school education for girls include a wide range of social and economic benefits for the girls themselves, their children and their communities.

These include near-elimination of child marriage, lowering fertility rates by a third in countries with high population growth, and reducing child mortality and malnutrition,” the report said.

The Nation