This is an unofficial evaluation of some critical assets that may be sold by the Federal Government as proposed by some stakeholders to bail Nigeria out of the current scourge of economic recession.
According to one engineer named Henry Omoregie, he was part of the Nigeria Liquefied Natural Gas, NLNG construction history from the scratch including piping, electrical and safety supervision.
He said NLNG was built (first 2 trains) for 3.8 billion USD. With an additional train, it shot up to 4.2 billion USD with plans to expand to about 7 trains on hold, it should worth about 10 – 15 billion USD. That is less than the billions of dollars figures the APC-led Nigeria has been bandying about, as recovered loot.
The JV agreement is shared 49% for Nigeria (NNPC) and the rest 51% by Shell, (biggest share of the other 3 at about 25%) Agip (ENI Group) and Total (then TotalFinaElf).
He said he understands during his sojourn in Bonny Island, that the plant would be wholly Nigeria National Petroleum Corporation, NNPC’s after 22 years (counting from 1999 or just before).
That means in 2021, 51% becomes an addition to the 49% = 100% Naija-owned. He also said the most expensive single ”asset” in Nigeria and Africa today is the NLNG Plant in Bonny Island, Rivers State – Nigeria.
See photos below as well as reactions by some Nigerians;