“It would have raked in a lot of investments, bringing in many foreign and domestic investors, more quality jobs would have been created, and our export earnings would have been fantastic. Our investments in gas and others would have gone far.”
This translates to about N2.3tn loss in oil revenue if the prevailing exchange rate and average oil price are used. The TNP, a Joint Venture operated by SPDC, is a major pipeline capable of transporting about 180,000 barrels of crude per day to the Bonny export terminal. He said, “What keeps me awake today as regards my onshore business in Shell is the fact that we cannot operate a pipeline, and that’s what is responsible for the 60 per cent capacity. I think today that is almost just how much gas we can supply,” he said.