In view of the recommendations for appropriate pricing for the strategic sectors of Nigeria’s
domestic market, the Honourable Minister of State for Petroleum Resources, H.E Chief Timipre Sylva
has officially received the recommended report by the Committee on Sector-Wide Review of
Nigeria’s Domestic Gas Pricing framework.
The Hon.Minister of State said that the purpose of the entire report is to reduce the price of gas in
order to liberalize the sector for more stakeholders to get involved. He opined that this will enable
the sector to grow and attract more investment drive with accelerated development in the entire
gas value chain. Speaking at the event in the Amphi Theatre, Sylva reaffirmed that Nigeria has
abundant gas resources in its reserves with a total sum of 203 TCF proven reserve and 600 TCF
possible reserve.
The Minister emphasized on choice options that would come with appropriate pricing and the
analogy of one opting for Auto-gas instead of Premium Motor Spirit (PMS), adding that Gas based
industries among others will continue to dominate and migrate the sustainability of the economy at
large.
Speaking earlier, the Permanent Secretary Ministry of Petroleum Resources, Mr.Bitrus Bako Nabasu
mni, said that, “we are delighted to have a final report which documents recommendation based on
problems we are much familiar with in the Nigerian Domestic Gas market”. He added that, the
pricing must be cost reflective, non-discriminatory, realistic and market determined. He started also
that “ cheap gas which Nigeria boasts to have in abundance remains our only nexus to economic
sustainability”.
Present also at the event were the Group Managing Director of NNPC, Mallam Mele Kolo Kyari, the
Director of DPR, Engr. Auwalu Sarki, the Director Gas MPR, Engr. Nkem Agolor, the Chief Operating
officer (COO) Gas and Power, Engr. Yusuf Usman amongst others.
Enefaa Bob-Manuel
Deputy Director(Information)
9th March, 2021.