Not less than 140,000 jobs will be created from the Nigerian Liquified Natural Gas (NLNG) Train 7 Engineering, Procurement and Construction (EPC) project. This is according to SimbiWabote, the Executive Secretary, Nigerian Content Development Monitoring Board (NCDMB).

During the signing of the Letter of Intent (LoI) of the $10 billion project in Abuja, Wabote made known that the target job numbers were exciting, adding that apart from job opportunities and accruable revenues from the project, the drought of Final Investment Decision (FID) in the oil and gas industry were poised to end.

More so, the company (NLNG) had stated that up to $10 billion worth of Foreign Direct Investment (FDI) was expected to flow into Nigeria in the next five years.

What you should know: Nairametricsunderstands that the NLNG is owned by four shareholders namely – the Federal Government, represented by the Nigerian National Petroleum Corporation (NNPC) with 49% interest; Shell Gas B.V, which has 25.6%; Total Gaz Electricite Holdings France with 15% and Eni International – 10.4%.

The Shell-run NLNG disclosed that it had selected a consortium comprising Italian firm, Saipem; South Korean Daewoo Engineering and Japanese Chiyoda to build its $7 billion Train-7 LNG expansion plant.

Prior to signing the LoI with the consortium, the Managing Director of NLNG, Tony Attah, said the next step in the Train-7 expansion project would be to sign the FID by October, 2019. He added that the Train-7 project would take at least five years after the FID and as well as increase NLNG’s market share in the global LNG industry.

Attah also emphasised that the project would raise the global profile of Nigeria as the fourth largest exporter of LNG in the world.