Nigeria’s Rivers State Government announced plans to invest in the oil and gas industry to enable it to boost gas supply.According to a statement by Mrs. Ibim Sementari, Commissioner of Information, they are also targeting 3% growth in its Gross Domestic Product.
She added that they are projecting 750 megawatts power supply in the next few months, and by achieving this, state has built two brand new power stations in Afam and also completing and expanding the 150MW watts Omoku power station.
“The Amaechi government is building a domestic gas plant to redistribute gas to domestic users, while also pursuing other ventures in both the upstream and down-stream sectors of the oil and gas industry.” Semenitari added.
According to the Secretary to the State Government, Mr. George Feyii, a N5 billion microfinance fund will be used in promoting youth entrepreneurship and youth empowerment in the state within a short period. The funds have been set aside by Rivers State.
Budding entrepreneurs will also be trained in business skills and be guided on business start ups using the equity finance fund and venture capital fund set up by the state.
According to him, there is a dire need to train people in financial management, while they will be taught on how to manage their businesses using the venture capital institution.
