Former Head, Interim National Government, Chief Ernest
Shonekan, has stressed the need for the Federal Government to, as a matter of
urgency accelerate the implementation of the seventh train of the multibillion
naira Nigeria Liquefied Natural Gas (NLNG) project, in Bonny, Rivers State.

Speaking to newsmen during a one-day visit to the NLNG plant
in Bonny, last Tuesday, Shonekan, who lauded the company for substantially
achieving the dreams for its establishment, said though the $10billion revenue
generated from gas sales from the plant last year was heart-warming, the
poverty level in the country has necessitated the need for more money to solve
the development challenges of the nation.

He argued that the take-off of train seven gas project would
reduce gas flaring in the Niger Delta, adding “the fact that the country still
flares gas is unacceptable in today’s world as it is not only injurious to the
health and environment but for the fact that the nation’s money is literally
poured into flames.”

According to him, “Nigeria is still a poor country; our
government and compatriots will be very grateful if you bring in more money.
Revenue of $10billion is heart-warming, but our poverty is such that we thirst
for even more revenue to solve our developmental problems, especially to
replace our decaying infrastructure and to make investments that will create
more jobs.

“That Nigeria is still flaring gas is an unacceptable fact
in today’s world, not only from a health and environmental perspective but
perpetrators are burning cash. Again, as a former captain of this nation, it is
painful that our country still leaves value on the table and walks away to
literally pour money into flames by flaring gas,” he said.

The Tide reports that Shonekan had expressed lack of
political will on the part of government to take decisions that could fast
track the commencement of work on the new train, saying that this has placed
many disadvantages on the NLNG as it has lost its prime position as a leading
LNG facility to Qatar and Australia.

According to him, these countries have moved their output
from 20 million metric tonnes range to 80 and 81 million metric tonnes,
respectively, while NLNG is stuck at 22 million metric tonnes, even as the
nation’s gas reserves are more than twice theirs.

He also pointed out that the nation’s LNG market share has
dropped from 10 per cent to seven per cent, with a serious threat for further
erosion to its market share if something is not done fast to remedy the
situation.

Also speaking, NLNG Board Chairman, Dr Osobonye LongJohn,
expressed worry over the drop in the company’s market share, saying that it was
as a result of increasing competition.

“We appeal to the government to give approval for the
take-off of the seventh train to enable NLNG recapture more market, and enhance
the revenue capacity of the company,” The Tide quotes LongJohn as saying.