The Federal Government has restated it’s commitment at ensuring the transformation of Nigeria into an industrialized nation with gas playing a major role.
This was revealed by President Mohammadu Buhari in his address to a one day event organized by the Ministry of Petroleum Resources in Abuja on Monday, 29th March, 2021. Delivering his speech at the event themed; “The Decade of Gas”, the President who joined virtually said Nigeria inspite of its abundant gas resources have focused too much on oil over the years and that his administration is poised to confront this paradox, hence the declaration of the year 2020 as “The Year of Gas” in Nigeria.
Buhari said his administration’s declaration of year 2020 as The Year of Gas was an attestation of its commitment at ensuring the development of the country”s abundant gas resources and strengthening of the gas value chain. He stated that policies and regulations were being reviewed and gazetted with a view to enhancing operations in the Sector as enshrined in the National Gas Policy of 2017.
In actualizing government’s industrialization agenda, the President stated that policies and structures have been put in place to ensure that gas plays a major role. These according to him included; commencing the process of commercializing gas flares, the National Gas Expansion Programme, Autogas policy and construction of the 614KM Ajaokuta-Kaduna-Kano (AKK) gas pipeline among others.
Speaking further, President Buhari noted that gas has the potential to diversify and uplift Nigeria’s economy given the country’s potential of about 600 trillion cubic feet of gas vis-a-vis the rising global demand for cleaner energy sources.
Continuing, the President informed that global developments have indeed presented us an opportunity. Gas will become the dominant fuel for generating power across the world. While acknowledging the Ministry of Petroleum Resources and the Nigerian National Petroleum Corporation (NNPC) for their efforts at setting the pace and rising up to the challenges poised by the gas revolution, President Buhari charged other relevant MDAs on the need to partner with the International Oil Companies, Indigineous Oil Companies, and financial institutions to actualize the dream of fully utilizing our gas resources to uplift our economy.
In his address at the event, the Minister of State for Petroleum Resources, Chief Timipre Sylva remarked that President Mohammadu Buhari’s administration’s drive for industrialization with the country’s vast natural gas resources was a deliberate and well thought-out plan. He recalled that the economic recovery and growth plan (ERGP) of this administration revolves round the utilization of natural gas. Sylva added that the four (4) priority areas enunciated in the EGRP are Energy Sufficiency, Transportation, Agriculture and Manufacturing/Industrialization. He opined that the common denominator in the EGRP agenda is natural gas as it’s the major fuel for power generation, transportation, and key ingredient for manufacturing fertilizer which is required for Agriculture, while natural gas derivatives of petrochemical products aid manufacturing and Industrialization.
The Minister thanked the Nigeria Liquefied Natural Gas (LNG) Limited, for their partnership for this Decade of Gas Development conference. He said; “They have proven to be a good corporate citizen and an ally with the Ministry of Petroleum Resources and the Federal Government of Nigeria”.
The Decade of Gas Development conference is a pre-conference event of the Nigeria International Petroleum Summit (NIPS) scheduled to hold in June 2021.
In attendance at the event were the Permanent Secretary, Ministry of Petroleum Resources, Mr. Bitrus Bako Nabasu, mni, Directors of the Ministry and Heads of Agencies.
There were goodwill messages from the Secretary General, Organization of Petroleum Exporting Countries (OPEC), H.E., Mohammad Sanusi Barkindo, Secretary General, Gas Exporting Countries Forum (GECF), H.E., Yuri Sentyurin, Secretary General, International Energy Forum (IEF), Mr. Joseph McMonigle, the Managing Director, Nigeria Liquefied Natural Gas,(LNG) Ltd, Mr. Tony Attah and the Director, Department of Petroleum Resources (DPR), Auwalu Sarki.
Deputy Director (Information)Ministry of Petroleum Resources
30th March, 2021