By Ingram Osigwe
With 200 trillion cubic feet of gas deposit buried beneath its soil, Imo state is set for an unprecedented economic boom and unimaginable prosperity for its citizens.
Fortunately for the state, Governor Hope Uzodinma, far sighted and visionary, had the presence of mind to appoint a seasoned technocrat and lawyer, Barrister Emeka Mgbudem as Commissioner for Petroleum and Natural Gas Development.
Barrister Emeka Mgbudem is an erudite corporate lawyer and private sector player with over 35 years experience in legal practice and business development. He is a leadership consultant and public policy expert with post graduate training in justice administration, arbitration, international finance, strategy and transformational consultancy, corporate governance and social policy from Kings College, University of London and Harvard University.
He brings his many years of experience, practice and leadership to support the “Gas to Prosperity” agenda of the Uzodinma administration.
Under Mgbudem’s pragmatic direction, Imo state is set to start harnessing economic benefits of the natural gas deposit under its soil as could be gleaned from the the virtual inauguration of ANOH gas processing plant at Assa in Ohaji Egbema LGA Imo State by President Bola Ahmed Tinubu.
Following the inauguration, Emeka Mgbudem paid a working visit to Waltersmith Petroleum and Petrochemical Refinery to see for himself, the progress of expansion works at the refinery, the oil and gas exploration platform and the new USD 200 millon projected exploration investment in the ASAA oil and gas field.
The refinery with a current capacity of 5000 bpd is expanding to 25,000 barrels bpd and delivering 271 million liters of refined petroleum products a year, with a crude oil capacity of approximately 60,000 barrels. It supplies diesel (AGO) to consumers in Abia, Anambra and Imo states.
Essentially, in line with Governor Uzodinma’s shared posterity agenda, Barrister Mgbudem is assiduously working to ensure that the abundant gas reserve in the state is harnessed and used as a catalyst to revive the near moribund industrial base of Imo State and to power homes with cheap, clean and affordable electricity.
Arguably, it is to the people oriented leadership of Governor Uzodinma, his strategic management acumen and the beauty of public, private sector partnership (PPP) that led to the delivery of the Waltersmith facilities that Imo people owe the success of the gas project.
And to drive home his resolve under the leadership of the Governor to put Imo on the world map of economic posterity through gas resources, Barrister Mgbudem has assured that his Ministry will do everything within its powers to leverage the gas deposits in the state to drive massive industrial rebirth and economic sufficiency for all Imo citizens.
Essentially, gas deposit in Nigeria was 100 trillion cubic feet until the one for Imo came upstream. With the state sitting atop reserves of 200 trillion cubic feet making her the single biggest gas holding state in Nigeria, Imo has the potential of becoming one of the richest states in Nigeria.
Imo’s huge gas deposits is the reason the USD 700m ANOH project was cited in the state. Oil and gas experts believe that South East Nigeria has more gas deposit than oil and with gas out-selling oil in the last ten years, it is expected to soon become the number one revenue earner for Nigeria. And should the federal government decide to adopt new sharing formula for gas producing states, Imo, holding a large percent of Nigeria’s gas reserve, is sure to be a very rich state with high gross domestic product.
Given their strategic visions for Imo, both Governor Uzodinma and Barrister Mgbudem have consistently expressed the state’s preparedness to partner with the Federal Government and other stakeholders in the gas industry to increase youth employment and economic growth of the State, insisting that Imo is prepared to host gas infrastructure and allied industries.
Meanwhile, as a lawyer and human resources/ management expert, Barrister Mgbudem has pledged the government’s commitment to continue its interface with the host communities of oil gas assets in the state as more production would mean more revenue to the state and more development to the host communities.
He has also urged all oil and gas companies operating in the state to quickly fulfil their obligations under the Petroleum Industry Act to the host communities, assuring that the protection of all oil and gas assets in the state ranks high on the priority list of the government.
Osigwe is the CEO of Fullpage Communications Ltd. He writes from Lagos
