Blue Stone Gas and Power Ltd, a leading gas and power company in Nigeria has signed Memoranda of Understanding with the Cross River State Government for the generation of 20 Megawatts power and deployment of Compressed Natural Gas (CNG) infrastructure across the State.
The Memoranda of Understanding was signed on Thursday 27th June, 2024 at the Ministry of Power and Renewable Energy, Calabar. Present at the signing of the MOUs were the Honourable Commissioner, Ministry of Power and Renewable Energy, Prince Eka Williams, the Permanent Secretary, Dr. Ogboaka, the Managing Director of Blue Stone Gas and Power Ltd Mr. Etim Inyang Jnr., Director, Mr. Deji Afolabi, head of the company in Cross River State Mr. Emmanuel Etim and Mr. Joseph Agi, Business Development Manager, Wema Bank Calabar.
Signing on behalf of the Cross River State Government, the Power Commissioner said the Governor of the State, Sen. Prince Bassey Edet Otu, is committed to transforming the energy landscape of the state being fully aware that the economic growth of the state is hinged on this.
He further stated that the energy provision and transition which the company is embarking upon is a welcome development considering the positive impact it will have on the state’s economy. He concluded that Governor Sen. Otu is excited about the investment and looks forward eagerly to see the project take off in no distant time.
The Managing Director of Blue Stone Gas and Power Ltd signing on behalf of the company said the importance of energy in catalyzing development in society cannot be overestimated. He continued that the company is set to play its role in the transformation of the state by the visionary Governor, Sen. Prince Bassey Otu.
He said the company is generating 20 Megawatts of Power in the state at the first instance, broken down as follows: 10 Megawatts in Calabar, 5 Megawatts in Ikom and 5 Megawatts in Ogoja. He continued that in addition, the company with set up Compressed Natural Gas Mother station and several daughter stations in Calabar, Ikom and Ogoja.
In the same vein, Mr. Deji said Blue Stone Gas and Power Ltd is set to make Cross River State a hub for Compressed Natural Gas for the region as well as the West Coast of Africa. He added that with abundant gas in the region, the state has no reason to be without constant power and Blue Stone will bring that dream to reality.
The Head of Blue Stone Gas and Power Ltd in Cross River State Mr. Emmanuel Etim said the choice of Cross River State by the company is due to the fact the Governor of Cross River State Sen. Prince Bassey Edet Otu has put a conducive business environment in place and is very investor friendly.
He said the company is looking forward to a mutually rewarding business relationship with the state while thanking the Commissioner, Ministry of Power and Renewable Energy and his team for the great work, and the Governor of the State for his vision.
